Amgen Inc. (AMGN) To Go Ex-Dividend on May 16th

Amgen Inc. (NASDAQ:AMGN) announced a quarterly dividend on Tuesday, March 4th, RTT News reports. Shareholders of record on Friday, May 16th will be paid a dividend of 2.38 per share by the medical research company on Friday, June 6th. This represents a $9.52 annualized dividend and a yield of 3.01%. The ex-dividend date is Friday, May 16th.

Amgen has increased its dividend by an average of 8.5% annually over the last three years and has raised its dividend every year for the last 14 years. Amgen has a dividend payout ratio of 44.0% meaning its dividend is sufficiently covered by earnings. Equities research 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 1.4 %

NASDAQ:AMGN opened at $316.57 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.95 and a debt-to-equity ratio of 9.62. The firm has a fifty day simple moving average of $283.80 and a 200-day simple moving average of $299.78. Amgen has a 12 month low of $253.30 and a 12 month high of $346.85. The company has a market capitalization of $170.06 billion, a P/E ratio of 41.93, a PEG ratio of 2.63 and a beta of 0.56.

Amgen (NASDAQ:AMGN) last released its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 earnings per share for the quarter, beating analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, equities research analysts anticipate that Amgen will post 20.62 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP David M. Reese sold 8,711 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $293.22, for a total value of $2,554,239.42. Following the completion of the sale, the executive vice president now owns 62,147 shares of the company’s stock, valued at approximately $18,222,743.34. The trade was a 12.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares in the company, valued at $2,195,228.70. The trade was a 18.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 in the last ninety days. 0.69% of the stock is owned by insiders.

Hedge Funds Weigh In On Amgen

A hedge fund recently raised its stake in Amgen stock. Brighton Jones LLC grew its holdings in shares of Amgen Inc. (NASDAQ:AMGN) by 23.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,468 shares of the medical research company’s stock after buying an additional 5,226 shares during the quarter. Brighton Jones LLC’s holdings in Amgen were worth $7,159,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 76.50% of the company’s stock.

Analyst Ratings Changes

AMGN has been the topic of a number of recent research reports. Piper Sandler boosted their price target on shares of Amgen from $310.00 to $329.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 price target on shares of Amgen in a research note on Friday, January 24th. Bank of America upped their target price on shares of Amgen from $275.00 to $294.00 and gave the stock an “underperform” rating in a research note on Wednesday. William Blair reissued an “outperform” rating on shares of Amgen in a research report on Tuesday, November 12th. Finally, StockNews.com cut shares of Amgen from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $314.95.

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.