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

AbbVie Inc. (NYSE:ABBV) announced a quarterly dividend on Friday, September 6th, RTT News reports. Shareholders of record on Tuesday, October 15th will be paid a dividend of 1.55 per share on Friday, November 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, October 15th.

AbbVie has raised its dividend by an average of 7.8% annually over the last three years and has raised its dividend every year for the last 52 years. AbbVie has a dividend payout ratio of 51.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AbbVie to earn $12.11 per share next year, which means the company should continue to be able to cover its $6.20 annual dividend with an expected future payout ratio of 51.2%.

AbbVie Stock Down 0.1 %

ABBV stock opened at $194.19 on Monday. The stock has a fifty day moving average of $194.08 and a 200-day moving average of $177.37. AbbVie has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The company has a market capitalization of $342.91 billion, a price-to-earnings ratio of 57.62, a PEG ratio of 2.66 and a beta of 0.63. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.02 billion. During the same quarter last year, the business earned $2.91 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts predict that AbbVie will post 10.85 earnings per share for the current year.

Insider Activity

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ABBV shares. Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Truist Financial lifted their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday. Finally, Piper Sandler increased their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.00.

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.