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

Amgen Inc. (NASDAQ:AMGN) announced a quarterly dividend on Friday, October 25th, RTT News reports. Shareholders 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 yield of 2.84%.

Amgen has increased its dividend by an average of 10.0% per year 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. Analysts expect Amgen to earn $20.53 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 43.8%.

Amgen Trading Up 0.4 %

AMGN opened at $316.98 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. The firm has a market cap of $170.04 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 2.86 and a beta of 0.61. Amgen has a 12 month low of $249.70 and a 12 month high of $346.85. The stock has a fifty day moving average price of $325.49 and a 200-day moving average price of $313.77.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, August 6th. The medical research company reported $4.97 EPS for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). Amgen had a return on equity of 161.72% and a net margin of 10.12%. The firm had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.35 billion. During the same quarter in the prior year, the firm posted $5.00 earnings per share. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Amgen will post 19.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AMGN shares. Truist Financial downgraded shares of Amgen from a “buy” rating to a “hold” rating and raised their target price for the company from $320.00 to $333.00 in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $305.00 target price (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and issued a $380.00 price target on shares of Amgen in a research note on Wednesday, August 7th. Dbs Bank upgraded Amgen to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $380.00 price objective (up from $375.00) on shares of Amgen in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $332.55.

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.