OMERS Administration Corp Trims Stake in Amgen Amid Price Surge
OMERS Administration Corp has made significant adjustments to its holdings in Amgen Inc. (NASDAQ:AMGN) over the second quarter, according to its most recent Form 13F filing with the SEC.
The institutional investor trimmed its position in shares of Amgen by 8.9% during the period, selling a total of 3,681 shares and reducing its stake from 37,717 shares at the end of the second quarter.
Despite this reduction, OMERS Administration Corp's holdings in Amgen were still worth $13,658,000 at the end of the most recent reporting period.
The move is part of a larger trend, as other hedge funds have also modified their stakes in AMGN over the past few quarters. For example, Brighton Jones LLC raised its stake in Amgen by 23.5% during the fourth quarter and now owns 27,468 shares valued at $7,159,000.
Amgen has experienced a significant price surge recently, with its stock opening at $439.33 on Monday. The company's valuation is also supported by its solid operating performance and dividend payments, which have helped to boost investor confidence.