15 Best NASDAQ Dividend Stocks To Buy

9. Amgen Inc. (NASDAQ:AMGN)

Number of Hedge Fund Holders: 68

Amgen Inc. (NASDAQ:AMGN) is an American multinational biopharmaceutical company. Its MariTide has the potential to become a notable weight loss drug, and the company is also developing at least one other obesity treatment. These initiatives mark the early stages of Amgen’s expansion into the rapidly growing obesity market. Beyond weight loss, the company’s pipeline remains promising, particularly in the biosimilar sector. Recently, the company secured a legal victory, clearing the way to release a biosimilar of Regeneron’s Eylea, used to treat wet age-related macular degeneration, even as the two companies continue their patent dispute in court.

In the third quarter of 2024, Amgen Inc. (NASDAQ:AMGN) reported $8.5 billion in revenue, reflecting a 23.1% increase compared to the same quarter the previous year. The company experienced double-digit sales growth across ten products, including $1.2 billion from its rare disease treatments, driven by several innovative, early-stage medications. Amgen generated $3.3 billion in free cash flow during the quarter, up from $2.5 billion in Q3 2023. This growth was primarily due to strong business performance and favorable timing of working capital items, although it was somewhat offset by reduced interest income.

Amgen Inc. (NASDAQ:AMGN) currently pays a quarterly dividend of $2.38 per share, having raised it by 5.8% in December 2024. Through this increase, the company stretched its dividend growth streak to 13 years, which makes AMGN one of the best dividend stocks on our list. The stock’s dividend yield came in at 3.53%, as of January 15.

According to Insider Monkey’s database of Q3 2024, 68 hedge funds held stakes in Amgen Inc. (NASDAQ:AMGN), compared with 69 in the previous quarter. These stakes have a total value of more than $1.7 billion. Among these hedge funds, Two Sigma Advisors was the company’s leading stakeholder in Q3.