Amgen Inc. (AMGN) To Go Ex-Dividend on February 14th

Amgen Inc. (NASDAQ:AMGN) declared a quarterly dividend on Tuesday, December 10th,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 2.38 per share by the medical research company on Friday, March 7th. This represents a $9.52 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from Amgen’s previous quarterly dividend of $2.25.

Amgen has increased its dividend payment by an average of 8.5% annually over the last three years and has increased its dividend annually for the last 14 consecutive 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 $21.28 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 44.7%.

Amgen Trading Up 0.6 %

NASDAQ AMGN opened at $296.66 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The firm has a market cap of $159.46 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 3.01 and a beta of 0.56. The company has a 50 day moving average price of $272.59 and a 200 day moving average price of $302.50. Amgen has a 52 week low of $253.30 and a 52 week high of $346.85.

Amgen (NASDAQ:AMGN) last posted its quarterly earnings data on Tuesday, February 4th. The medical research company reported $5.31 EPS for the quarter, topping the consensus estimate of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. As a group, sell-side analysts forecast that Amgen will post 20.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AMGN shares. TD Cowen upped their price target on shares of Amgen from $381.00 to $383.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Bank of America upped their price target on shares of Amgen from $256.00 to $275.00 and gave the company an “underperform” rating in a research note on Thursday, February 6th. Truist Financial cut their price objective on shares of Amgen from $333.00 to $298.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Wolfe Research started coverage on shares of Amgen in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Finally, Piper Sandler Companies reiterated an “overweight” rating and issued a $310.00 price objective on shares of Amgen in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $314.09.

Insider Transactions at Amgen

In other news, EVP Jonathan P. Graham sold 25,045 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $293.12, for a total value of $7,341,190.40. Following the transaction, the executive vice president now directly owns 28,987 shares of the company’s stock, valued at approximately $8,496,669.44. This trade represents a 46.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Nancy A. Grygiel sold 1,589 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total transaction of $483,802.83. Following the completion of the transaction, the senior vice president now directly owns 7,210 shares in the company, valued at approximately $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Amgen Company Profile

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.