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

Amgen Inc. (NASDAQ:AMGN) announced a quarterly dividend on Friday, October 25th, RTT News reports. Stockholders of record on Monday, November 18th will be given a dividend of 2.25 per share by the medical research company on Monday, December 9th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.84%.

Amgen has raised its dividend payment by an average of 10.0% per year over the last three years and has increased its dividend every year for the last 13 years. Amgen has a payout ratio of 43.4% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.4 %

Shares of NASDAQ AMGN traded up $1.29 during mid-day trading on Friday, reaching $316.98. 1,579,464 shares of the company traded hands, compared to its average volume of 2,427,844. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.89 and a current ratio of 1.26. The stock has a market cap of $170.04 billion, a PE ratio of 45.57, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company’s fifty day moving average is $325.58 and its two-hundred day moving average is $313.14. Amgen has a fifty-two week low of $249.70 and a fifty-two week high of $346.85.

Amgen (NASDAQ:AMGN) last released its earnings results on Tuesday, August 6th. The medical research company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.01 by ($0.04). The business had revenue of $8.39 billion during the quarter, compared to analyst estimates of $8.35 billion. Amgen had a net margin of 10.12% and a return on equity of 161.72%. The business’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same period last year, the business earned $5.00 EPS. On average, analysts expect that Amgen will post 19.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMGN. TD Cowen lifted their price objective on Amgen from $381.00 to $383.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley cut their target price on Amgen from $310.00 to $303.00 and set an “equal weight” rating for the company in a research report on Thursday, July 11th. Bank of America raised their target price on Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $380.00 target price on shares of Amgen in a research report on Wednesday, August 7th. Finally, Dbs Bank upgraded Amgen to a “strong-buy” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.