Fintel reports that on October 9, 2023, Oppenheimer maintained coverage of AMGEN (NASDAQ:AMGN) with a Outperform recommendation.
Analyst Price Forecast Suggests 0.96% Upside
As of October 5, 2023, the average one-year price target for AMGEN is 270.03. The forecasts range from a low of 186.85 to a high of $336.00. The average price target represents an increase of 0.96% from its latest reported closing price of 267.47.
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The projected annual revenue for AMGEN is 27,680MM, an increase of 4.13%. The projected annual non-GAAP EPS is 18.93.
AMGEN Declares $2.13 Dividend
On August 1, 2023 the company declared a regular quarterly dividend of $2.13 per share ($8.52 annualized). Shareholders of record as of August 18, 2023 received the payment on September 8, 2023. Previously, the company paid $2.13 per share.
At the current share price of $267.47 / share, the stock's dividend yield is 3.19%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.06%, the lowest has been 2.45%, and the highest has been 3.92%. The standard deviation of yields is 0.33 (n=236).
The current dividend yield is 0.37 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.57. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.33%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 3536 funds or institutions reporting positions in AMGEN. This is a decrease of 152 owner(s) or 4.12% in the last quarter. Average portfolio weight of all funds dedicated to AMGN is 0.50%, a decrease of 10.29%. Total shares owned by institutions decreased in the last three months by 1.46% to 438,274K shares. 
The put/call ratio of AMGN is 0.97, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 16,656K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 16,532K shares, representing an increase of 0.75%. The firm decreased its portfolio allocation in AMGN by 14.63% over the last quarter.
Primecap Management holds 14,736K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 15,113K shares, representing a decrease of 2.55%. The firm decreased its portfolio allocation in AMGN by 14.19% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 12,722K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 12,460K shares, representing an increase of 2.06%. The firm decreased its portfolio allocation in AMGN by 15.07% over the last quarter.
Geode Capital Management holds 11,799K shares representing 2.21% ownership of the company. In it's prior filing, the firm reported owning 11,430K shares, representing an increase of 3.13%. The firm decreased its portfolio allocation in AMGN by 14.24% over the last quarter.
Charles Schwab Investment Management holds 11,242K shares representing 2.10% ownership of the company. In it's prior filing, the firm reported owning 10,761K shares, representing an increase of 4.27%. The firm decreased its portfolio allocation in AMGN by 9.86% over the last quarter.
AMGEN Background Information
(This description is provided by the company.)
Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology. Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people's lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world's leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
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This story originally appeared on Fintel.
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