Westpac Banking Corp Boosts Stake in Amgen Inc.
Westpac Banking Corp has increased its stake in Amgen Inc., one of the world's leading biotechnology companies. The bank acquired an additional 2,356 shares of AMGN during the second quarter, raising its position by 8.9%. This brings Westpac's total holdings in Amgen to 28,767 shares, worth approximately $10.42 million at the end of the most recent reporting period.
The acquisition makes up about 0.6% of Westpac Banking Corp's investment portfolio and is its 26th largest position. Other institutional investors such as Norges Bank and BlackRock Inc. have also increased their stakes in Amgen, with Capital World Investors growing its holdings by 22.9% during the fourth quarter.
Amgen has seen significant growth in recent months, with revenue rising year-over-year and earnings per share exceeding consensus estimates in its latest quarterly results. Analysts such as Argus have raised their price targets for AMGN, citing the company's strong performance and progress across its drug portfolio.