AbbVie Inc (NYSE:ABBV) announced a quarterly dividend on Thursday, June 14th, RTT News reports. Shareholders of record on Friday, July 13th will be paid 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% per year over the last three years and has increased its dividend annually for the last 45 consecutive years. AbbVie has a 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%.
NYSE:ABBV traded up $1.17 on Thursday, reaching $98.75. 4,643,427 shares of the company’s stock were exchanged, compared to its average volume of 7,985,951. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.10. The firm has a market capitalization of $158.32 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.93 and a beta of 1.61. AbbVie has a 52-week low of $69.38 and a 52-week high of $125.86.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.79 by $0.08. The company had revenue of $7.93 billion for the quarter, compared to analyst estimates of $7.60 billion. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. analysts expect that AbbVie will post 7.8 EPS for the current fiscal year.
AbbVie announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts have issued reports on the stock. Credit Suisse Group set a $89.00 price target on shares of AbbVie and gave the stock a “sell” rating in a research note on Wednesday, June 6th. Piper Jaffray Companies downgraded AbbVie from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $125.86 to $66.62 in a research report on Friday, June 1st. Argus lowered their price objective on AbbVie from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday. BMO Capital Markets reissued a “sell” rating and set a $80.00 price objective on shares of AbbVie in a research report on Thursday, April 5th. Finally, Deutsche Bank downgraded AbbVie from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $125.86 to $65.61 in a research report on Wednesday, May 30th. Four 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 stock. AbbVie presently has a consensus rating of “Hold” and a consensus target price of $106.51.
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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