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

AbbVie Inc. (NYSE:ABBV) announced a quarterly dividend on Friday, September 5th, RTT News reports. Investors of record on Wednesday, October 15th will be paid a dividend of 1.64 per share on Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, October 15th.

AbbVie has a dividend payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect AbbVie to earn $13.98 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 46.9%.

AbbVie Stock Performance

Shares of ABBV stock opened at $212.34 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.61 and a current ratio of 0.74. The company has a market capitalization of $375.11 billion, a P/E ratio of 101.11, a price-to-earnings-growth ratio of 1.37 and a beta of 0.53. The company’s 50 day moving average price is $197.74 and its two-hundred day moving average price is $194.13. AbbVie has a 52 week low of $163.81 and a 52 week high of $218.66.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Thursday, July 31st. The company reported $2.97 earnings per share for the quarter, missing the consensus estimate of $3.24 by ($0.27). The firm had revenue of $15.42 billion for the quarter, compared to analyst estimates of $14.93 billion. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.65 earnings per share. On average, analysts expect that AbbVie will post 12.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Guggenheim upped their price objective on AbbVie from $216.00 to $227.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Raymond James Financial reiterated an “outperform” rating on shares of AbbVie in a research note on Monday, August 25th. Piper Sandler began coverage on shares of AbbVie in a research note on Tuesday, August 12th. They issued an “overweight” rating and a $231.00 price target on the stock. Citigroup lifted their price target on shares of AbbVie to $205.00 and gave the company a “hold” rating in a research note on Wednesday, June 11th. Finally, Daiwa America upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 7th. Four 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 company currently has an average rating of “Moderate Buy” and a consensus target price of $214.95.

About AbbVie

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.