As global stock markets experience significant fluctuations in April 2025 due to world trade conflicts, more investors are seeking refuge in stable, dividend-paying stocks.

The S&P 500 ($SPX) has dropped 10.3% so far this year, and biotech and pharmaceutical companies have not been immune. But Amgen (AMGN), one of the largest biotech companies in the world, has stood out from the crowd. Its shares are up 6.5% YTD, beating the overall market and making it a favorite for investors who want growing dividends.

Amgen’s strength isn’t just luck. The company has a strong lineup of new medicines, smart buyouts, and a solid dividend that pays a forward yield of 3.45%. Over the last ten years, Amgen’s dividend has grown by 201%, showing it truly cares about giving back to shareholders. This stands out even more when contextualized against the broader market.

With all this in mind, let’s look at why some analysts see Amgen as a top dividend stock you might want to buy and hold for the long run.

Amgen’s Financial Strength Amid Volatility

Amgen (AMGN) is a global biotech company known for creating new treatments for serious diseases, using both cutting-edge research and strong manufacturing. This mix helps Amgen stay steady even when the market gets rough, which really matters right now with so much uncertainty out there. 

Even though it’s been a tough year for many stocks, Amgen’s share price has managed to rise 2.1% over the past 52 weeks and is up 6.5% so far this year. 

Amgen’s business is in good shape. Last year, total revenue jumped 19% to $33.4 billion, and the last quarter alone saw an 11% increase, reaching $9.1 billion. Adjusted earnings per share increased 6%, showing the company’s core business is still strong. Free cash flow also grew, hitting $10.4 billion in 2024 compared to $7.4 billion in 2023. 

When it comes to value, Amgen’s forward price-earnings ratio is 13.45x, which is lower than the sector average of 16.08x. This means you’re getting more for your money compared to similar companies. The stock also has a low beta of 0.59x, which means it doesn’t swing as wildly as the market. With a healthy payout ratio and steady performance, Amgen really stands out as a stock you can count on for the long run.

The Engines Powering Amgen’s Enduring Growth

Amgen’s growth comes down to smart choices. The company’s recent $1 billion expansion in North Carolina isn’t just about building a bigger factory; it’s about making sure it can keep up with the growing demand for its medicines. 

What really stands out is Amgen’s lineup of new and existing medicines. The FDA just approved UPLIZNA as the first treatment for IgG4-related disease, which gives Amgen a whole new market to serve. 

Its buyout of Horizon Therapeutics is already paying off, making the rare disease business even stronger. On top of that, older drugs like Repatha and Evenity are still bringing in steady sales, and Amgen’s new obesity treatment, MariTide, could be a big winner in the future.

This growth and innovation is good news for anyone who owns Amgen stock. The company has paid out dividends every year since 2011 and has raised them for 14 years in a row. 

With a payout ratio of 44.31%, Amgen is sharing a good chunk of its profits, but it can afford to do so because of its strong cash flow and steady business. If you’re looking for a stock you can hold onto for years and count on for both growth and income, Amgen’s track record makes a strong case.

Why Experts See Amgen as a ‘Forever’ Stock

Amgen’s outlook for 2025 helps explain why so many experts call it a “forever” stock. The company expects to bring in between $34.3 billion and $35.7 billion in revenue this year. For earnings, Amgen is guiding for $10.89 to $12.14 per share on a GAAP basis, and $20.00 to $21.20 per share on a non-GAAP basis, with plans to spend about $2.3 billion on capital projects. 

While these numbers are just a bit lower than what some analysts hoped for, they still show steady growth, especially considering the tough macroenvironment and biotech-specific headwinds such as pricing pressure. 

Analysts are still pretty upbeat about Amgen’s future. Out of 30 surveyed, the stock earns a “Strong Buy” consensus rating. The average price target is $321.73, which suggests upside of about 15.5% from current prices. 

Conclusion

Amgen’s steady hand through market volatility, relentless innovation, and commitment to rewarding shareholders make it a rare find in today’s market. With a healthy dividend, a strong pipeline, and analysts seeing even more room to run, it’s easy to understand why this stock is often called a buy-and-hold “forever” pick. For investors who want both resilience and growth, Amgen stands out as a smart choice to anchor a long-term portfolio, one you can feel confident owning through whatever the market throws your way.