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

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 annualized dividend and a dividend yield of 2.84%.

Amgen has raised its dividend by an average of 10.0% per year over the last three years and has raised its dividend annually for the last 13 consecutive 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 Performance

NASDAQ:AMGN opened at $316.98 on Friday. The stock has a market capitalization of $170.04 billion, a P/E ratio of 45.28, a price-to-earnings-growth ratio of 2.86 and a beta of 0.61. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 9.64. Amgen has a 1 year low of $249.70 and a 1 year high of $346.85. The firm has a 50 day moving average of $325.49 and a 200-day moving average of $313.47.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Robert W. Baird restated an “underperform” rating and issued a $215.00 price objective on shares of Amgen in a research report on Wednesday, September 25th. Bank of America boosted their price objective on shares of Amgen from $325.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Sanford C. Bernstein began coverage on Amgen in a research report on Thursday, October 17th. They issued an “outperform” rating and a $380.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $305.00 price objective (down from $310.00) on shares of Amgen in a research report on Wednesday, August 7th. Finally, TD Cowen upped their target price on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Amgen presently has a consensus rating of “Moderate Buy” and an average price target of $332.55.

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.