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

Amgen Inc. (NASDAQ:AMGN) announced a quarterly dividend on Friday, October 31st. Investors of record on Friday, November 21st will be given a dividend of 2.38 per share by the medical research company on Friday, December 12th. This represents a c) dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, November 21st.

Amgen has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 14 years. Amgen has a payout ratio of 44.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Amgen to earn $21.39 per share next year, which means the company should continue to be able to cover its $9.52 annual dividend with an expected future payout ratio of 44.5%.

Amgen Trading Up 0.7%

Shares of NASDAQ:AMGN opened at $343.99 on Wednesday. The company has a debt-to-equity ratio of 7.24, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market capitalization of $185.23 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.61 and a beta of 0.45. Amgen has a 1-year low of $253.30 and a 1-year high of $345.84. The company has a 50 day moving average price of $297.43 and a 200 day moving average price of $291.24.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, November 4th. The medical research company reported $5.64 earnings per share for the quarter, beating analysts’ consensus estimates of $5.01 by $0.63. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $8.98 billion. Amgen had a return on equity of 174.71% and a net margin of 18.96%.Amgen’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $5.58 EPS. Amgen has set its FY 2025 guidance at 20.600-21.400 EPS. On average, research analysts anticipate that Amgen will post 20.62 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMGN shares. Cantor Fitzgerald upped their target price on Amgen from $305.00 to $315.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Amgen from $280.00 to $285.00 and gave the company a “hold” rating in a research note on Tuesday, November 11th. HSBC upped their price target on shares of Amgen from $343.00 to $381.00 and gave the stock a “buy” rating in a research note on Wednesday. Weiss Ratings raised Amgen from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Finally, Citigroup upped their target price on Amgen from $310.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $319.90.

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.