Principal Financial Group Sells Stake in Amgen Amid Q2 Earnings Beat

Amgen Inc., a global biotechnology company, saw its shares decrease by 1.9% in the second quarter due to Principal Financial Group's reduction of holdings in the medical research firm.

The institutional investor sold 12,052 shares during this period, bringing their total ownership to 614,341 shares, which represents approximately 0.11% of Amgen's stock value worth $222,465,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company, with some increasing their stakes while others reduced theirs.