5 Best Dividend Stocks to Buy in 2022

In this article, we discuss 5 best dividend stocks to buy in 2022. If you want to read our detailed analysis of dividend investment and performance of dividend stocks, go directly to read 10 Best Dividend Stocks to Buy in 2022. 

5. Amgen Inc. (NASDAQ:AMGN)

Dividend Yield as of July 21: 3.15%

Amgen Inc. (NASDAQ:AMGN) is a California-based multinational biopharmaceutical company that manufactures medicines for patients with serious diseases.

In Q1 2022, Amgen Inc. (NASDAQ:AMGN) generated $2 billion in free cash flow, compared with $1.9 billion during the same period last year. Its operating cash flow came in at $2.2 billion at the end of the quarter, up from $2.1 billion in the prior-year quarter. The company paid $1.1 billion in dividends to shareholders in Q1, representing a 10% increase from 2021. Amgen Inc. (NASDAQ:AMGN) has been raising its payout consecutively for the last ten years, with a five-year CAGR of 11.97%. The company currently pays a quarterly dividend of $1.94 per share, with a yield of 3.15%, as of the close of July 21.

In June, Oppenheimer raised its price target on Amgen Inc. (NASDAQ:AMGN) to $290 with an Outperform rating on the shares, highlighting the company’s strong financials.

The number of hedge funds tracked by Insider Monkey owning stakes in Amgen Inc. (NASDAQ:AMGN) grew to 56 in Q1 2022, from 52 in the previous quarter. The collective value of these stakes stood at over $1.88 billion. Two Sigma Advisors was the company’s largest stakeholder in Q1, owning over 1.7 million shares.

ClearBridge Investments mentioned Amgen Inc. (NASDAQ:AMGN) in its Q3 2021 investor letter. Here is what the firm has to say:

“In health care, Amgen, a biotechnology company, has endured several pipeline setbacks recently, including a slow transition of its Lumakras treatment into first-line lung cancer, a slower than expected development of its treatment for myeloma as well as the company’s asthma treatment Tezepelumab missing its primary endpoint in a Phase III study. We remain positive on the stock, with Amgen’s investments in biosimilars and its pipeline part of our long-term thesis.”