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

AbbVie Inc. (NYSE:ABBV) announced a quarterly dividend on Thursday, June 20th, RTT News reports. Investors 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 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, July 15th.

AbbVie has a dividend payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AbbVie to earn $12.10 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 Up 0.2 %

Shares of NYSE:ABBV opened at $170.28 on Friday. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The company has a market cap of $300.69 billion, a PE ratio of 50.53, a price-to-earnings-growth ratio of 2.16 and a beta of 0.64. AbbVie has a 52 week low of $132.70 and a 52 week high of $182.89. The firm has a 50 day simple moving average of $165.23 and a 200 day simple moving average of $168.48.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter in the prior year, the firm earned $2.46 EPS. The company’s revenue was up .7% compared to the same quarter last year. As a group, research analysts expect that AbbVie will post 10.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of AbbVie from $191.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday, June 5th. Piper Sandler reiterated an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a research report on Tuesday, July 2nd. Barclays dropped their price target 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. Finally, BMO Capital Markets dropped their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $182.69.

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.