AbbVie Inc. (NYSE:ABBV – Get Free Report) 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.
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.
Get Our Latest Research Report on AbbVie
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.
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