AbbVie Inc. (ABBV) to Issue Quarterly Dividend of $1.64 on May 15th

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

AbbVie has raised its dividend payment by an average of 6.0% annually over the last three years and has increased its dividend every year for the last 53 years. AbbVie has a payout ratio of 47.1% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of NYSE:ABBV opened at $193.00 on Friday. AbbVie has a 1-year low of $153.58 and a 1-year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business has a fifty day moving average price of $178.93 and a 200-day moving average price of $186.04. The company has a market capitalization of $341.05 billion, a PE ratio of 80.42, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 31st. The company reported $2.16 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 prior year, the company earned $2.79 earnings per share. As a group, equities analysts expect that AbbVie will post 12.32 EPS for the current fiscal year.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on ABBV. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Piper Sandler lifted their price objective on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. Wells Fargo & Company raised their target price on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Company Profile

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.