Amgen Inc. Plans Quarterly Dividend of $1.15 (AMGN)
Amgen Inc. (NASDAQ:AMGN) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Investors of record on Friday, November 17th will be given a dividend of 1.15 per share by the medical research company on Friday, December 8th. This represents a $4.60 annualized dividend and a yield of 2.55%.
Amgen has increased its dividend payment by an average of 28.6% annually over the last three years and has raised its dividend every year for the last 6 years. Amgen has a payout ratio of 36.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Amgen to earn $12.83 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 35.9%.
Amgen (AMGN) traded down 0.09% during trading on Tuesday, reaching $180.37. The company had a trading volume of 3,435,749 shares. Amgen has a 12-month low of $133.64 and a 12-month high of $191.10. The firm has a market capitalization of $131.61 billion, a PE ratio of 16.43 and a beta of 1.36. The firm’s 50 day moving average price is $185.18 and its 200 day moving average price is $171.85.
Amgen (NASDAQ:AMGN) last issued its earnings results on Tuesday, July 25th. The medical research company reported $3.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.16. Amgen had a net margin of 35.46% and a return on equity of 29.85%. The company had revenue of $5.81 billion for the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter last year, the company posted $2.84 earnings per share. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Amgen will post $12.58 EPS for the current year.
Several brokerages have recently weighed in on AMGN. BMO Capital Markets reiterated a “hold” rating and set a $198.00 price target on shares of Amgen in a research note on Friday. Zacks Investment Research cut shares of Amgen from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Barclays PLC lifted their price target on shares of Amgen from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Friday, October 13th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $203.00 price target on shares of Amgen in a research note on Friday, October 6th. Finally, Mizuho reiterated a “buy” rating and set a $198.00 price target on shares of Amgen in a research note on Friday, October 6th. Twelve investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Amgen has an average rating of “Buy” and a consensus price target of $189.94.
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In other news, EVP Sean E. Harper sold 1,525 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $185.95, for a total value of $283,573.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AMGN. Janus Henderson Group PLC raised its stake in shares of Amgen by 3,664.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,699,351 shares of the medical research company’s stock worth $637,139,000 after acquiring an additional 3,601,087 shares in the last quarter. FMR LLC increased its stake in Amgen by 4.8% during the 2nd quarter. FMR LLC now owns 56,999,572 shares of the medical research company’s stock valued at $9,817,037,000 after purchasing an additional 2,587,041 shares in the last quarter. Renaissance Technologies LLC increased its stake in Amgen by 40.9% during the 2nd quarter. Renaissance Technologies LLC now owns 3,400,145 shares of the medical research company’s stock valued at $585,607,000 after purchasing an additional 986,700 shares in the last quarter. Nordea Investment Management AB increased its stake in Amgen by 12.9% during the 2nd quarter. Nordea Investment Management AB now owns 7,040,599 shares of the medical research company’s stock valued at $1,212,602,000 after purchasing an additional 806,119 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Amgen by 51.8% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,299,191 shares of the medical research company’s stock valued at $395,990,000 after purchasing an additional 784,957 shares in the last quarter. Hedge funds and other institutional investors own 78.09% of the company’s stock.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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