Amgen (NASDAQ:AMGN) Reaches New 1-Year High Following Dividend Announcement

Key Points

• Amgen shares reached a new 52-week high of $454.66 after the company announced a quarterly dividend of $2.52 per share, equal to $10.08 annually and a 2.2% yield.
• Analyst sentiment remains mixed: MarketBeat’s consensus rating is “Hold”, with an average price target of $389.71, despite some firms maintaining Buy ratings or raising targets.
• Amgen reported better-than-expected quarterly results, with EPS of $6.29 and revenue of $10.05 billion, while positive autoimmune-disease trial data support its pipeline; an FDA warning over Vectibix promotion adds a regulatory risk.

Shares of Amgen Inc. (NASDAQ:AMGN - Get Free Report) reached a new 52-week high during trading on Wednesday following a dividend announcement from the company. The stock traded as high as $454.66 and last traded at $449.6390, with a volume of 1,283,695 shares. The stock had previously closed at $447.95.The newly announced dividend which will be paid on Friday, December 11th. Shareholders of record on Friday, November 20th will be given a $2.52 dividend. This represents a $10.08 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, November 20th. Amgen's dividend payout ratio is presently 62.65%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMGN. BMO Capital Markets dropped their price target on shares of Amgen from $450.00 to $415.00 and set a "market perform" rating for the company in a research note on Monday, October 12th. UBS Group upped their price objective on Amgen from $430.00 to $470.00 and gave the company a "buy" rating in a research note on Friday, October 9th. Robert W. Baird boosted their price target on Amgen from $215.00 to $230.00 and gave the company an "underperform" rating in a report on Wednesday, August 5th. Truist Financial upped their price target on Amgen from $362.00 to $380.00 and gave the company a "hold" rating in a research report on Wednesday, October 7th. Finally, Morgan Stanley decreased their price objective on shares of Amgen from $362.00 to $359.00 and set an "equal weight" rating for the company in a report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $389.71.

Amgen Stock Performance

The stock has a market capitalization of $243.09 billion, a P/E ratio of 27.94, a P/E/G ratio of 3.21 and a beta of 0.41. The stock has a 50 day moving average of $418.42 and a 200 day moving average of $372.80. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.13 and a current ratio of 1.37.

Amgen (NASDAQ:AMGN - Get Free Report) last posted its earnings results on Tuesday, August 4th. The medical research company reported $6.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.62 by $0.67. The company had revenue of $10.05 billion for the quarter, compared to analysts' expectations of $9.43 billion. Amgen had a return on equity of 124.14% and a net margin of 22.95%. The firm's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $6.02 earnings per share. Amgen has set its FY 2026 guidance at 22.300-23.500 EPS. Equities analysts predict that Amgen Inc. will post 22.96 EPS for the current year.

Key Stories Impacting Amgen

Here are the key news stories impacting Amgen this week:

• Positive Sentiment: Amgen reported positive Phase 3 OASIZ-301 results for dazodalibep in Sjögren’s disease, showing statistically significant and clinically meaningful improvements in systemic disease activity and patient-reported dryness. The data strengthen the company’s autoimmune-disease pipeline and could support future commercial opportunities. Amgen autoimmune disease data
• Positive Sentiment: Amgen declared a quarterly dividend of $2.52 per share, or $10.08 annualized, payable December 11 to shareholders of record November 20. The announcement supports the stock’s income appeal and signals continued confidence in cash generation. Amgen fourth-quarter dividend
• Positive Sentiment: Goldman Sachs maintained a Buy rating, while TD Cowen also rated Amgen Buy. The supportive analyst views add to positive sentiment around the company’s pipeline and earnings prospects. Goldman Sachs Amgen rating
• Positive Sentiment: Jefferies raised its price target to $428 from $410, and Barclays increased its target to $400 from $380, reflecting improved expectations despite both targets remaining below the recent share price. Jefferies Amgen price target
• Neutral Sentiment: Amgen plans to present additional data on autoimmune and rare diseases at the American College of Rheumatology meeting, creating potential near-term catalysts but also leaving investors focused on the quality and commercial implications of the disclosures. Amgen ACR data presentation
• Negative Sentiment: The FDA issued a warning letter over promotional material for Amgen’s Vectibix cancer drug. Although the immediate financial impact is unclear, regulatory criticism creates compliance and reputational risks. FDA warning regarding Vectibix promotion

Insider Activity at Amgen

In related news, SVP Nancy A. Grygiel sold 2,970 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $402.16, for a total value of $1,194,415.20. Following the sale, the senior vice president directly owned 7,340 shares in the company, valued at $2,951,854.40. This trade represents a 28.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Rachna Khosla sold 2,000 shares of Amgen stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $412.57, for a total value of $825,140.00. Following the sale, the senior vice president directly owned 6,404 shares in the company, valued at $2,642,098.28. The trade was a 23.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,222 shares of company stock valued at $2,540,926. Insiders own 0.85% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AMGN. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Amgen by 6.1% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 85,905 shares of the medical research company's stock valued at $36,210,000 after buying an additional 4,920 shares during the period. Partners Wealth Management LLC acquired a new position in shares of Amgen during the third quarter valued at approximately $328,000. Soltis Investment Advisors LLC raised its holdings in Amgen by 8.8% during the third quarter. Soltis Investment Advisors LLC now owns 31,750 shares of the medical research company's stock worth $13,383,000 after purchasing an additional 2,578 shares in the last quarter. Choreo LLC increased its position in shares of Amgen by 1.5% during the 3rd quarter. Choreo LLC now owns 18,598 shares of the medical research company's stock valued at $7,839,000 after purchasing an additional 278 shares during the period. Finally, Interchange Capital Partners LLC raised its position in Amgen by 1.3% in the third quarter. Interchange Capital Partners LLC now owns 2,139 shares of the medical research company's stock worth $902,000 after acquiring an additional 28 shares in the last quarter. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Company Profile

Amgen Inc is a biotechnology company that discovers, develops, manufactures and delivers medicines for serious illnesses. Its research focuses on areas including oncology, cardiovascular disease, inflammation, bone health, nephrology and neuroscience.

The company's products include biologic and specialty medicines such as Enbrel for inflammatory diseases, Prolia and Evenity for osteoporosis, Xgeva for skeletal-related complications, Repatha for cardiovascular risk reduction, Otezla for inflammatory conditions, Tezspire for severe asthma, Blincyto for certain blood cancers, and Lumakras for specific cancers.

Founded in 1980, Amgen is headquartered in Thousand Oaks, California.

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