Amgen stock split five times from 1990 to 1998, according to the official company website. It first split, at two shares for every one share owned, on August 10, 1990. The latest split, as of 2015, happened on November 19, 1999, when the stock split again at two for one.
Amgen stock also split three other times during the 1990s, states Amgen. Its stock split three for one on September 10, 1991, two for one on August 15, 1995, and two for one on February 26, 1999. The Amgen stock splits did not happen at consistent price points. Share prices before Amgen stock splits ranged from $88 to $160. Share prices after stock splits ranged from $44 to $64. Amgen also paid out quarterly dividends consistently between 2011 and 2015.
Companies generally split their stock when prices reach a point that might make potential investors hesitant to buy it, explains Investopedia. Splitting stock does not directly affect a company's market capitalization, and it instead reduces the price of each share. A higher number of shares also allows higher stock liquidity. Stock splitting may also reignite interest from investors.
Amgen is a medicines manufacturing, marketing and development company, reports CNN. The company uses biotechnology and advances in cellular and molecular biology for its research. Founded in 1980, the company is based in Thousand Oaks, California, and has a market capitalization of approximately $116 billion, as of July 2015.