Beutel Goodman & Co Ltd. Raises Position in Amgen Inc. $AMGN

Beutel Goodman & Co Ltd. boosted its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,436,622 shares of the medical research company’s stock after buying an additional 37,343 shares during the period. Amgen makes up about 2.3% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 14th largest holding. Beutel Goodman & Co Ltd. owned 0.27% of Amgen worth $401,119,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Amgen by 1.6% in the second quarter. Vanguard Group Inc. now owns 53,711,570 shares of the medical research company’s stock worth $14,996,807,000 after purchasing an additional 841,117 shares during the last quarter. Geode Capital Management LLC increased its stake in Amgen by 2.3% in the second quarter. Geode Capital Management LLC now owns 13,018,617 shares of the medical research company’s stock valued at $3,619,489,000 after acquiring an additional 291,271 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Amgen by 5.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 12,893,677 shares of the medical research company’s stock valued at $3,600,043,000 after purchasing an additional 687,735 shares in the last quarter. Laurel Wealth Advisors LLC lifted its stake in Amgen by 27,765.8% during the second quarter. Laurel Wealth Advisors LLC now owns 6,700,621 shares of the medical research company’s stock worth $1,870,880,000 after purchasing an additional 6,676,575 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Amgen in the 2nd quarter worth about $1,663,726,000. 76.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Murdo Gordon sold 6,879 shares of Amgen stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $336.83, for a total value of $2,317,053.57. Following the sale, the executive vice president owned 41,923 shares in the company, valued at $14,120,924.09. The trade was a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 3,139 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $337.26, for a total transaction of $1,058,659.14. Following the transaction, the senior vice president directly owned 7,225 shares in the company, valued at approximately $2,436,703.50. The trade was a 30.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,908 shares of company stock valued at $3,674,966. Company insiders own 0.76% of the company’s stock.

Amgen Price Performance

AMGN stock opened at $340.16 on Friday. The stock has a market capitalization of $183.17 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 3.12 and a beta of 0.45. The firm’s 50-day moving average price is $312.27 and its two-hundred day moving average price is $296.72. The company has a current ratio of 1.28, a quick ratio of 0.99 and a debt-to-equity ratio of 5.45. Amgen Inc. has a 12-month low of $253.30 and a 12-month high of $346.38.

Amgen (NASDAQ:AMGN) last posted its earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, topping analysts’ consensus estimates of $5.01 by $0.63. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a net margin of 19.47% and a return on equity of 162.59%. Amgen’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $5.58 earnings per share. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. As a group, equities analysts predict that Amgen Inc. will post 20.62 earnings per share for the current year.

Amgen Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 21st will be given a $2.38 dividend. This represents a $9.52 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, November 21st. Amgen’s dividend payout ratio (DPR) is currently 73.57%.

Analyst Ratings Changes

A number of brokerages recently weighed in on AMGN. BMO Capital Markets raised their price objective on Amgen from $335.00 to $372.00 and gave the company an “outperform” rating in a report on Wednesday. Truist Financial initiated coverage on shares of Amgen in a research report on Monday, November 24th. They set a “hold” rating and a $318.00 price target on the stock. Weiss Ratings raised shares of Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. Bank of America upped their price objective on shares of Amgen from $261.00 to $272.00 and gave the company an “underperform” rating in a research note on Friday, September 26th. Finally, Morgan Stanley decreased their target price on shares of Amgen from $333.00 to $329.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $335.65.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.