AbbVie Inc (NYSE:ABBV) announced a — dividend on Monday, September 9th, Wall Street Journal reports. Shareholders of record on Tuesday, October 15th will be given a dividend of 1.07 per share on Friday, November 15th. This represents a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th.
AbbVie has raised its dividend payment by an average of 21.1% per year over the last three years and has raised its dividend every year for the last 46 years. AbbVie has a dividend payout ratio of 54.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect AbbVie to earn $9.24 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 46.3%.
NYSE ABBV opened at $73.30 on Thursday. The company has a 50-day simple moving average of $70.14 and a two-hundred day simple moving average of $73.93. AbbVie has a 12-month low of $62.66 and a 12-month high of $95.39. The firm has a market cap of $109.90 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.52 and a beta of 0.99.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same period in the prior year, the business posted $2.00 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Equities analysts expect that AbbVie will post 8.9 earnings per share for the current year.
Several analysts have issued reports on the stock. UBS Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and cut their price target for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. Piper Jaffray Companies upped their price objective on shares of AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Wednesday, June 26th. Cowen set a $90.00 price objective on shares of AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Citigroup raised shares of AbbVie from a “neutral” rating to a “buy” rating and upped their price objective for the company from $87.00 to $90.00 in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. AbbVie presently has an average rating of “Hold” and a consensus price target of $89.97.
In other AbbVie news, Director Roxanne S. Austin bought 55,000 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was acquired at an average price of $65.86 per share, with a total value of $3,622,300.00. Following the completion of the purchase, the director now owns 92,114 shares of the company’s stock, valued at $6,066,628.04. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Istar Inc. bought 40,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $28.52 per share, with a total value of $1,140,800.00. Insiders have acquired 183,077 shares of company stock valued at $10,705,751 in the last ninety days. Insiders own 0.08% of the company’s stock.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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