Amgen Inc. (NASDAQ:AMGN) to Issue Quarterly Dividend of $2.38

Amgen Inc. (NASDAQ:AMGN) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 2.38 per share by the medical research company on Friday, March 7th. This represents a $9.52 annualized dividend and a dividend yield of 3.47%. This is an increase from Amgen’s previous quarterly dividend of $2.25.

Amgen has raised its dividend by an average of 10.0% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Amgen has a payout ratio of 43.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Amgen to earn $20.34 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 44.2%.

Amgen Price Performance

NASDAQ AMGN traded down $1.15 during trading hours on Wednesday, hitting $274.60. 511,380 shares of the company’s stock traded hands, compared to its average volume of 2,598,357. The firm’s 50-day moving average is $305.69 and its 200-day moving average is $315.66. Amgen has a 52-week low of $257.80 and a 52-week 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. The company has a market capitalization of $147.61 billion, a PE ratio of 35.31, a PEG ratio of 3.02 and a beta of 0.55.

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

Wall Street Analyst Weigh In

AMGN has been the topic of several recent analyst reports. Wolfe Research initiated coverage on shares of Amgen in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Sanford C. Bernstein initiated coverage on shares of Amgen in a report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Leerink Partners decreased their price objective on shares of Amgen from $349.00 to $302.00 in a report on Wednesday, November 27th. Truist Financial cut shares of Amgen from a “buy” rating to a “hold” rating and raised their price target for the company from $320.00 to $333.00 in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Amgen from $305.00 to $285.00 in a research report on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $319.68.

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.