AbbVie Inc. (NYSE:ABBV) Declares $1.64 Quarterly Dividend

AbbVie Inc. (NYSE:ABBV) announced a quarterly dividend on Friday, February 14th,Wall Street Journal reports. Shareholders of record on Tuesday, April 15th will be given a dividend of 1.64 per share on Thursday, May 15th. This represents a $6.56 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, April 15th.

AbbVie has raised its dividend payment by an average of 6.0% annually over the last three years. AbbVie has a dividend payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Analysts expect AbbVie to earn $13.96 per share next year, which means the company should continue to be able to cover its $6.56 annual dividend with an expected future payout ratio of 47.0%.

AbbVie Trading Down 0.2 %

Shares of ABBV opened at $193.00 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The business’s 50-day moving average price is $178.59 and its 200-day moving average price is $185.96. The stock has a market cap of $341.05 billion, a PE ratio of 80.42, a P/E/G ratio of 1.53 and a beta of 0.58. AbbVie has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the business posted $2.79 earnings per share. On average, equities analysts forecast that AbbVie will post 12.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABBV. Guggenheim increased their price objective on AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and issued a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Argus raised AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. UBS Group raised their price target on AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Finally, Daiwa America lowered AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $208.35.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.25% of the stock is owned by corporate insiders.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.