Amgen stock gains on dividend strength and raised 2026 EPS guidance

Amgen stock (ISIN US0311621009) closed at USD 385.65 on Nasdaq on September 18, 2026, a gain of 1.55% from the previous session that left the shares near the upper end of their recent range. As of September 19, 2026, the price around USD 385.25 translates into a market capitalization of roughly USD 208.45 billion and reflects investors’ focus on the biotech group’s rising earnings guidance and dividend profile.

Dividend yield backed by rising guidance

According to Yahoo Finance on September 19, 2026, Amgen pays a quarterly dividend of USD 2.52 per share, which annualizes to USD 10.08 and implies a yield of about 2.6% at a share price near USD 385.28.

In the same article, management is cited as having raised 2026 earnings per share guidance to a range of USD 22.30 to USD 23.50, signaling confidence that the business can cover and grow its dividend from operating performance rather than financial engineering.Yahoo Finance This upper-end guidance level is a key benchmark for income-focused investors comparing the stock against other large pharmaceutical names.

Q2 2026 cash flow supports payouts

As Yahoo Finance reports for Q2 2026, Amgen generated USD 3.5 billion in quarterly free cash flow, which comfortably covers a dividend payout near USD 1.4 billion per quarter.

The same overview highlights that in Q2 2026 Amgen reported 22 products with double-digit growth and 17 products that are annualizing at more than USD 1 billion in sales, underlining the breadth of its revenue base compared with peers that rely more heavily on single blockbuster franchises.Yahoo Finance

Within that mix, six growth drivers – including Repatha, Evenity, Tezspire, rare disease treatments, innovative oncology assets and biosimilars – collectively grew sales by 26% in Q2 2026 and now represent nearly 70% of Amgen’s product sales.Yahoo Finance This quantified shift toward a diversified growth portfolio is central to the equity story, because it reduces dependence on any single medicine while still supporting a sizable shareholder payout.

Leverage and patent erosion remain watch points

The same analysis notes that Amgen carries about USD 57.3 billion in debt, equivalent to roughly 3.2 times EBITDA, which is higher leverage than some large-cap pharmaceutical peers.Yahoo Finance For investors, this means that robust free cash flow and disciplined capital allocation remain crucial to preserving dividend flexibility while paying down obligations over time.

At the same time, biosimilar competition is already visible: Prolia and Xgeva combined saw sales fall 33% in the period referenced, illustrating how loss of exclusivity can weigh on individual franchises even as the overall portfolio continues to grow.Yahoo Finance The market’s current pricing of Amgen stock suggests investors are weighing these erosion risks against the demonstrated strength and diversification of the company’s newer growth drivers.

Stock trades near recent high

Per data as of September 20, 2026, Amgen shares most recently traded around USD 385.25 on Nasdaq, with a day range on September 19, 2026 between USD 376.86 and USD 386.50 and volume of about 8.53 million shares.Investing.com That closing level of USD 385.65 on September 18, 2026, marked a 1.55% daily gain and left the stock only a fraction below the intraday high of USD 386.50 from the same session, indicating that buyers have been willing to pay close to the recent peak to secure exposure to Amgen’s cash-generative pipeline.

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