Amgen Inc. (AMGN) To Go Ex-Dividend on November 18th

Amgen Inc. (NASDAQ:AMGN) declared a quarterly dividend on Friday, October 25th,RTT News reports. Stockholders of record on Monday, November 18th will be paid a dividend of 2.25 per share by the medical research company on Monday, December 9th. This represents a $9.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Monday, November 18th.

Amgen has raised its dividend by an average of 10.0% annually over the last three years and has raised its dividend every year for the last 13 years. Amgen has a payout ratio of 43.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Amgen to earn $20.32 per share next year, which means the company should continue to be able to cover its $9.00 annual dividend with an expected future payout ratio of 44.3%.

Amgen Price Performance

AMGN stock opened at $283.61 on Friday. The firm has a 50 day simple moving average of $320.85 and a two-hundred day simple moving average of $318.05. The stock has a market cap of $152.45 billion, a PE ratio of 36.31, a P/E/G ratio of 2.69 and a beta of 0.60. Amgen has a one year low of $260.52 and a one year high of $346.85. The company has a debt-to-equity ratio of 7.55, a current ratio of 1.32 and a quick ratio of 0.96.

Amgen (NASDAQ:AMGN) last issued its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.11 by $0.47. The firm had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. Amgen had a return on equity of 168.35% and a net margin of 13.00%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.96 earnings per share. On average, analysts predict that Amgen will post 19.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AMGN shares. Jefferies Financial Group restated a “buy” rating and set a $380.00 target price on shares of Amgen in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and set a $405.00 price objective on shares of Amgen in a research note on Tuesday, October 22nd. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday. TD Cowen raised their price target on shares of Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Barclays upped their price objective on shares of Amgen from $300.00 to $315.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $333.57.

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.