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

AbbVie Inc. (NYSE:ABBV) declared a quarterly dividend on Wednesday, October 30th,RTT News reports. Investors of record on Wednesday, January 15th will be paid a dividend of 1.64 per share on Friday, February 14th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55.

AbbVie has raised its dividend payment by an average of 6.0% per year over the last three years and has raised its dividend annually for the last 53 consecutive years. AbbVie has a payout ratio of 48.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect AbbVie to earn $12.23 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 53.6%.

AbbVie Trading Down 1.9 %

Shares of AbbVie stock opened at $175.18 on Monday. AbbVie has a 52-week low of $153.58 and a 52-week high of $207.32. The firm has a market capitalization of $309.57 billion, a PE ratio of 60.83, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. 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 company’s fifty day moving average price is $178.47 and its two-hundred day moving average price is $184.55.

AbbVie (NYSE:ABBV) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. On average, analysts expect that AbbVie will post 10.96 EPS for the current year.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s 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 completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

ABBV has been the topic of several recent analyst reports. Citigroup decreased their price target on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research note on Friday, November 22nd. Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research report on Thursday, December 5th. JPMorgan Chase & Co. reduced their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company raised their price objective on shares of AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.50.

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.