Beacon Pointe Advisors Buys into Amgen with $39 Million Stake

Beacon Pointe Advisors LLC has acquired a new stake in Amgen Inc. (NASDAQ:AMGN), as revealed in its recent Form 13F filing with the Securities and Exchange Commission.

The fund purchased 108,053 shares of Amgen's stock, valued at approximately $39,127,000, during the second quarter.

This acquisition is not an isolated instance; several other institutional investors have modified their holdings in Amgen. Brighton Jones LLC increased its position by 23.5% in the fourth quarter and now owns 27,468 shares of the company's stock worth $7,159,000.

Amgen has reported strong financial results, exceeding analyst expectations for both earnings and revenue in its latest quarter. The company's revenue increased year over year, reaching $10.05 billion.