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

Amgen Inc. (NASDAQ:AMGN) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Stockholders of record on Friday, February 14th will be paid a dividend of 2.38 per share by the medical research company on Friday, March 7th. This represents a $9.52 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Friday, February 14th. This is an increase from Amgen’s previous quarterly dividend of $2.25.

Amgen has increased its dividend payment by an average of 10.0% annually over the last three years and has increased its dividend every year for the last 13 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 Stock Down 0.8 %

AMGN opened at $273.41 on Thursday. The firm has a market cap of $146.97 billion, a P/E ratio of 35.01, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The company has a debt-to-equity ratio of 7.55, a quick ratio of 0.96 and a current ratio of 1.32. The business has a 50 day moving average price of $304.80 and a 200 day moving average price of $315.45. Amgen has a twelve month low of $257.80 and a twelve month high of $346.85.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Truist Financial lowered Amgen from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $320.00 to $333.00 in a research note on Monday, October 14th. Redburn Partners lowered their target price on Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. William Blair reiterated an “outperform” rating on shares of Amgen in a report on Tuesday, November 12th. Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research note on Wednesday, September 25th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 target price on shares of Amgen in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $319.68.

Amgen Company Profile

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.