AbbVie Inc. (NYSE:ABBV – Get Free Report) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders of record on Wednesday, January 15th will be given a dividend of 1.64 per share on Friday, February 14th. This represents a $6.56 annualized dividend and a yield of 3.39%. This is a positive change from AbbVie’s previous quarterly dividend of $1.55.
AbbVie has raised its dividend by an average of 7.8% annually over the last three years and has raised its dividend every year for the last 52 years. AbbVie has a payout ratio of 51.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AbbVie to earn $12.11 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 Price Performance
Shares of ABBV stock traded up $4.03 during mid-day trading on Wednesday, hitting $193.48. 1,300,332 shares of the stock were exchanged, compared to its average volume of 5,271,889. The firm has a fifty day moving average of $193.75 and a 200 day moving average of $178.75. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. AbbVie has a 52-week low of $135.85 and a 52-week high of $199.95. The company has a market cap of $341.66 billion, a PE ratio of 56.23, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.
Insider Buying and Selling
Analyst Upgrades and Downgrades
A number of research firms have commented on ABBV. Piper Sandler increased their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. BMO Capital Markets increased their price objective on shares of AbbVie from $214.00 to $220.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. TD Cowen increased their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. UBS Group raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, Truist Financial raised their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.39.
View Our Latest Research Report on AbbVie
AbbVie Company Profile
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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