AbbVie Inc (NYSE:ABBV) declared a quarterly dividend on Thursday, June 14th, RTT News reports. Shareholders of record on Friday, July 13th will be given a dividend of 0.96 per share on Wednesday, August 15th. This represents a $3.84 dividend on an annualized basis and a yield of 3.89%.
AbbVie has increased its dividend payment by an average of 15.5% annually over the last three years and has increased its dividend annually for the last 45 consecutive years. AbbVie has a dividend payout ratio of 51.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect AbbVie to earn $8.83 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 32.2%.
AbbVie traded up $1.17, reaching $98.75, during trading on Thursday, according to Marketbeat. 4,643,427 shares of the company’s stock were exchanged, compared to its average volume of 7,985,951. AbbVie has a 1 year low of $69.38 and a 1 year high of $125.86. The company has a current ratio of 1.20, a quick ratio of 1.10 and a debt-to-equity ratio of 8.70. The firm has a market capitalization of $158.32 billion, a PE ratio of 17.63, a P/E/G ratio of 0.93 and a beta of 1.61.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Thursday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.08. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The company had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.60 billion. During the same period last year, the firm posted $1.28 EPS. AbbVie’s revenue for the quarter was up 21.4% compared to the same quarter last year. analysts predict that AbbVie will post 7.8 EPS for the current fiscal year.
Several research firms have recently weighed in on ABBV. Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a report on Tuesday, March 20th. Bank of America set a $120.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Monday, March 26th. Barclays cut their target price on shares of AbbVie from $120.00 to $102.00 and set an “equal weight” rating for the company in a report on Thursday, April 5th. Morgan Stanley cut their target price on shares of AbbVie from $131.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, April 30th. Finally, Jefferies Financial Group set a $125.00 target price on shares of AbbVie and gave the company a “buy” rating in a report on Friday, March 23rd. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $106.51.
AbbVie declared that its board has authorized a stock repurchase plan on Thursday, February 15th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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