AbbVie Inc. (NYSE:ABBV – Get Free Report) announced a quarterly dividend on Thursday, June 18th. Investors of record on Wednesday, July 15th will be paid a dividend of 1.73 per share on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Wednesday, July 15th.
AbbVie has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 53 years. AbbVie has a payout ratio of 49.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect AbbVie to earn $16.30 per share next year, which means the company should continue to be able to cover its $6.92 annual dividend with an expected future payout ratio of 42.5%.
AbbVie Trading Down 2.1%
Shares of ABBV opened at $216.63 on Friday. AbbVie has a 1-year low of $181.73 and a 1-year high of $244.81. The firm’s 50-day moving average price is $212.08 and its 200-day moving average price is $218.78. The firm has a market capitalization of $382.74 billion, a price-to-earnings ratio of 106.71, a PEG ratio of 0.68 and a beta of 0.32.
Wall Street Analysts Forecast Growth
ABBV has been the subject of a number of research analyst reports. Barclays started coverage on shares of AbbVie in a report on Thursday, February 19th. They issued an “overweight” rating and a $275.00 price target for the company. Royal Bank Of Canada began coverage on AbbVie in a report on Tuesday, February 24th. They issued an “outperform” rating and a $260.00 price objective for the company. Piper Sandler increased their price target on shares of AbbVie from $294.00 to $298.00 and gave the stock an “overweight” rating in a report on Thursday, May 14th. Evercore set a $235.00 price target on AbbVie in a report on Friday, May 15th. Finally, Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $253.43.
View Our Latest Stock Report on AbbVie
About AbbVie
AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.
AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.
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