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

Key Points

• Amgen Inc. declared a quarterly dividend of $2.38 per share, payable on September 12th to investors of record as of August 22nd, representing a 3.2% dividend yield.
• The company has a dividend payout ratio of 44.2%, indicating its dividends are well-covered by earnings, with expected earnings per share of $21.39 next year.
• As of the latest trading session, Amgen's shares reached $296.88, with a market capitalization of $159.64 billion and a twelve-month trading range between $253.30 and $339.17.

Amgen Inc. (NASDAQ:AMGN - Get Free Report) declared a quarterly dividend on Friday, August 1st, RTT News reports. Investors of record on Friday, August 22nd will be paid a dividend of 2.38 per share by the medical research company on Friday, September 12th. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%.

Amgen has a dividend payout ratio of 44.2% 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 Stock Performance

Shares of NASDAQ AMGN traded up $1.78 during trading hours on Friday, reaching $296.88. The stock had a trading volume of 2,410,860 shares, compared to its average volume of 1,708,073. The business's fifty day moving average is $291.53 and its two-hundred day moving average is $291.66. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.17 and a quick ratio of 0.88. The company has a market cap of $159.64 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 2.55 and a beta of 0.49. Amgen has a twelve month low of $253.30 and a twelve month high of $339.17.

Amgen (NASDAQ:AMGN - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical research company reported $4.90 EPS for the quarter, beating analysts' consensus estimates of $4.18 by $0.72. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.05 billion. Amgen had a return on equity of 176.11% and a net margin of 17.39%. Amgen's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.96 earnings per share. As a group, research analysts expect that Amgen will post 20.62 EPS for the current year.

Insider Transactions at Amgen

In related news, SVP Rachna Khosla sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $289.68, for a total value of $434,520.00. Following the transaction, the senior vice president owned 8,162 shares in the company, valued at $2,364,368.16. This trade represents a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Amgen

Hedge funds have recently added to or reduced their stakes in the company. Wealth Preservation Advisors LLC acquired a new position in Amgen in the first quarter valued at about $25,000. Pinney & Scofield Inc. acquired a new position in Amgen in the fourth quarter valued at about $26,000. First Pacific Financial lifted its stake in Amgen by 304.5% in the first quarter. First Pacific Financial now owns 89 shares of the medical research company's stock valued at $28,000 after buying an additional 67 shares during the period. CBIZ Investment Advisory Services LLC lifted its stake in Amgen by 1,214.3% in the first quarter. CBIZ Investment Advisory Services LLC now owns 92 shares of the medical research company's stock valued at $29,000 after buying an additional 85 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE lifted its stake in Amgen by 66.2% in the fourth quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company's stock valued at $33,000 after buying an additional 51 shares during the period. Institutional investors own 76.50% of the company's stock.

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.

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