The last five years have been pretty interesting at AMGN, as earnings have grown steadily and dividend payments were instituted and set on a growing trajectory. Not surprisingly, the dividend growth rated has slowed down during those five years, and the dividend payout ratio has increased. After the price moved ahead of profits in more recent years, the price stalled out and remained in a fairly narrow range, which caused AMGN to become an undervalued stock while earnings rose some more.
AMGN looks to be an excellent investment for the next few years.
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