Amgen Inc. (NASDAQ:AMGN) Declares $2.25 Quarterly Dividend

Amgen Inc. (NASDAQ:AMGNGet Free Report) announced a quarterly dividend on Wednesday, March 6th, RTT News reports. Shareholders of record on Friday, May 17th will be paid a dividend of 2.25 per share by the medical research company on Friday, June 7th. This represents a $9.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Thursday, May 16th.

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 dividend payout ratio of 43.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Amgen to earn $20.59 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 43.7%.

Amgen Trading Down 0.5 %

NASDAQ:AMGN opened at $308.45 on Tuesday. Amgen has a one year low of $211.71 and a one year high of $329.72. The company has a market cap of $165.46 billion, a PE ratio of 44.06, a PEG ratio of 2.79 and a beta of 0.60. The company has a debt-to-equity ratio of 11.96, a current ratio of 1.42 and a quick ratio of 0.98. The firm has a 50-day moving average of $277.62 and a 200-day moving average of $282.51.

Amgen (NASDAQ:AMGNGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The medical research company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.76 by $0.20. Amgen had a return on equity of 156.21% and a net margin of 12.74%. The firm had revenue of $7.45 billion during the quarter, compared to the consensus estimate of $7.45 billion. During the same period in the prior year, the business posted $3.98 earnings per share. The company’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, equities research analysts expect that Amgen will post 19.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AMGN shares. The Goldman Sachs Group raised their target price on Amgen from $313.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Truist Financial reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Amgen in a research report on Friday, April 12th. Mizuho increased their target price on shares of Amgen from $223.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, May 9th. BMO Capital Markets lifted their price target on shares of Amgen from $336.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada reduced their price objective on Amgen from $332.00 to $328.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $305.65.

Read Our Latest Report on Amgen

Insider Buying and Selling at Amgen

In related news, SVP Nancy A. Grygiel sold 2,117 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $313.09, for a total value of $662,811.53. Following the completion of the transaction, the senior vice president now directly owns 9,883 shares in the company, valued at approximately $3,094,268.47. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.69% of the stock is owned by company insiders.

Amgen Company Profile

(Get Free Report)

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 Beh├žet'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.

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Dividend History for Amgen (NASDAQ:AMGN)

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