Amgen Increases Dividend 30%, But Is It A Buy?

17-02-2014 Seeking AlphaComments (0)

AmgenBiotechnology

The last time I wrote about Amgen Inc. (AMGN) I stated, "…I will not be adding to my position now because I think I can get it at a lower price." After writing the article the lowest the stock dropped was 1.11% about two weeks later but since the last article it popped 10.33% versus the 2.37% gain the S&P 500 (SPY) posted. It's quite unfortunate that I didn't plow money into the company at the time but it's OK because my original investment appreciated handsomely. Amgen is a global biotech company (the first of its kind) which discovers, develops, manufactures and delivers human therapeutics.

On January 28, 2014, the company reported fourth quarter earnings of $1.82 per share, which beat the consensus of analysts' estimates by $0.14. In the past year the company's stock is up 48.12% excluding dividends (up 49.91% including dividends), and is beating the S&P


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