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

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) announced a quarterly dividend on Friday, August 1st, RTT News reports. Shareholders of record on Friday, August 22nd will be given a dividend of 2.38 per share by the medical research company on Friday, September 12th. This represents a c) annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 22nd.

Amgen has a dividend payout ratio of 44.2% indicating that its dividend is sufficiently covered by earnings. 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 Down 1.1%

AMGN stock traded down $3.43 during midday trading on Tuesday, hitting $298.51. 1,259,163 shares of the company's stock were exchanged, compared to its average volume of 2,894,145. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 8.70. Amgen has a 12-month low of $253.30 and a 12-month high of $339.17. The firm has a 50 day moving average price of $292.64 and a 200-day moving average price of $292.40. The stock has a market capitalization of $160.51 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 2.57 and a beta of 0.49.

Insider Transactions at Amgen

In other Amgen news, SVP Rachna Khosla sold 1,500 shares of the business'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 completion of the transaction, the senior vice president directly owned 8,162 shares of the company's stock, valued at approximately $2,364,368.16. The trade was 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 accessible through the SEC website. Insiders own 0.69% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in Amgen by 23.5% during the fourth quarter. Brighton Jones LLC now owns 27,468 shares of the medical research company's stock worth $7,159,000 after acquiring an additional 5,226 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Amgen in the fourth quarter valued at approximately $8,798,000. Grantham Mayo Van Otterloo & Co. LLC raised its stake in Amgen by 26.4% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 4,437 shares of the medical research company's stock valued at $1,156,000 after buying an additional 928 shares during the period. Trek Financial LLC raised its stake in Amgen by 44.9% in the fourth quarter. Trek Financial LLC now owns 4,139 shares of the medical research company's stock valued at $1,079,000 after buying an additional 1,282 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE raised 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. 76.50% of the stock is owned by institutional investors and hedge funds.

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.