Amgen Inc. (NASDAQ:AMGN) Plans 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 given 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 3.45%. This is a boost from Amgen’s previous quarterly dividend of $2.25.

Amgen has raised its dividend payment by an average of 10.0% per year 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. Research 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 0.7 %

Shares of NASDAQ AMGN traded down $1.88 during mid-day trading on Tuesday, reaching $275.75. The company had a trading volume of 2,790,641 shares, compared to its average volume of 2,607,342. Amgen has a twelve month low of $257.80 and a twelve month high of $346.85. 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 stock has a market capitalization of $148.22 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 3.02 and a beta of 0.55. The stock’s 50 day moving average is $305.69 and its 200-day moving average is $315.66.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings results 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. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.50 billion. Amgen had a net margin of 13.00% and a return on equity of 168.35%. Amgen’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.96 earnings per share. As a group, equities analysts anticipate that Amgen will post 19.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Redburn Partners decreased their price objective on shares of Amgen from $200.00 to $195.00 in a report on Wednesday, November 27th. Bank of America reiterated an “underperform” rating and issued a $256.00 price objective on shares of Amgen in a report on Tuesday. Dbs Bank upgraded shares of Amgen to a “strong-buy” rating in a report on Monday, September 16th. StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 28th. Finally, Wolfe Research initiated coverage on shares of Amgen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Amgen presently has a consensus rating of “Hold” and a consensus target price 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.