AbbVie Inc. Plans Quarterly Dividend of $1.55 (NYSE:ABBV)

AbbVie Inc. (NYSE:ABBV) announced a quarterly dividend on Friday, June 21st, RTT News reports. Stockholders of record on Monday, July 15th will be paid a dividend of 1.55 per share on Thursday, August 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.63%.

AbbVie has increased its dividend by an average of 7.8% per year over the last three years and has increased its dividend annually for the last 52 consecutive years.

AbbVie Trading Down 0.9 %

Shares of ABBV stock opened at $170.57 on Friday. The stock has a market capitalization of $301.20 billion, a P/E ratio of 50.61, a P/E/G ratio of 2.19 and a beta of 0.60. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The firm’s 50 day moving average is $163.89 and its 200 day moving average is $166.64. AbbVie has a 12-month low of $130.96 and a 12-month high of $182.89.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the company posted $2.46 earnings per share. AbbVie’s revenue was up .7% compared to the same quarter last year. Research analysts expect that AbbVie will post 11.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABBV has been the topic of several recent research reports. Barclays lowered their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, April 29th. Piper Sandler upped their price objective on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday. Guggenheim upped their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research report on Wednesday, June 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a research note on Thursday. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, AbbVie has an average rating of “Moderate Buy” and a consensus price target of $179.64.

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.