BlackRock Boosts Stake in Amgen to Over $17 Billion

BlackRock Inc., one of the world's largest asset managers, has significantly increased its stake in Amgen Inc. (NASDAQ:AMGN). According to a recent filing with the SEC, BlackRock raised its position in Amgen by 4.8% during the second quarter, buying an additional 2,261,544 shares.

The fund now owns 49,362,016 shares of Amgen's stock, representing about 9.15% of the company's total value, which is approximately $17.87 billion. This makes BlackRock the largest shareholder in Amgen.

This increase in stake comes as Amgen continues to perform well financially, with quarterly revenue rising 9.5% year over year to $10.05 billion, and adjusted earnings of $6.29 per share exceeding consensus by $0.67.