Bank of America Invests $1.83 Billion in Biotech Leader Amgen

Bank of America Corp DE, a well-established financial institution, has invested $1.83 billion in Amgen Inc., a leading biotechnology company.

The investment was made through the purchase of approximately 5.06 million shares of Amgen's stock during the second quarter, as per the company's most recent Form 13F filing with the Securities and Exchange Commission (SEC).

This significant investment brings Bank of America Corp DE's ownership stake in Amgen to about 0.94%.

Notably, this is not an isolated instance of institutional investors showing interest in Amgen. Other prominent hedge funds, such as Adell Harriman & Carpenter Inc., Integrated Advisors Network LLC, and National Pension Service, have also increased their stakes in the company over the past few quarters.