5 Best Dividend Stocks for Steady Growth

4. Amgen Inc. (NASDAQ:AMGN)

Dividend Yield as of October 4: 3.34%
5-Year Compound Average Dividend Growth Rate: 11.24%

Amgen Inc. (NASDAQ:AMGN) is a California-based biotech company that provides treatments to patients suffering from serious illnesses. In August, Piper Sandler raised its price target on the stock to $265 with an Overweight rating on the shares, appreciating the company’s another quarter of solid execution with strong performances in its overall franchises.

In Q2 2022, Amgen Inc. (NASDAQ:AMGN) reported an operating cash flow of $2 billion, in line with the previous quarter. The company’s free cash flow came in at $1.7 billion, which also remained consistent with its cash flow in the previous quarter. During the quarter, its cash and investments amounted to $7.2 billion.

Amgen Inc. (NASDAQ:AMGN) currently pays a quarterly dividend of $1.94 per share and has a dividend yield of 3.34%, as of October 4. The company has been raising its dividends consistently for the past 10 years and has raised its payouts at a CAGR of 11.24% in the past five years.

At the end of June 2022, 55 hedge funds in Insider Monkey’s database owned stakes in Amgen Inc. (NASDAQ:AMGN), compared with 56 in the previous quarter. The total value of these stakes is over $2.17 billion. Two Sigma Advisors was the company’s leading stakeholder in Q2.