AbbVie Inc. (ABBV) To Go Ex-Dividend on October 12th
AbbVie Inc. (NYSE:ABBV) declared a quarterly dividend on Friday, September 8th, Zacks reports. Stockholders of record on Friday, October 13th will be paid a dividend of 0.64 per share on Wednesday, November 15th. This represents a $2.56 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, October 12th.
AbbVie has raised its dividend payment by an average of 12.5% annually over the last three years and has raised its dividend annually for the last 44 consecutive years. AbbVie has a dividend payout ratio of 46.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AbbVie to earn $6.59 per share next year, which means the company should continue to be able to cover its $2.56 annual dividend with an expected future payout ratio of 38.8%.
AbbVie (NYSE ABBV) opened at 91.17 on Wednesday. AbbVie has a one year low of $55.06 and a one year high of $91.33. The company has a market cap of $145.33 billion, a PE ratio of 22.42 and a beta of 1.51. The firm has a 50-day moving average of $83.43 and a 200-day moving average of $72.41.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the business earned $1.26 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. On average, analysts predict that AbbVie will post $5.52 EPS for the current year.
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Several analysts have recently weighed in on ABBV shares. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $72.72 target price on the stock. in a research report on Wednesday, June 14th. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Leerink Swann reiterated a “market perform” rating on shares of AbbVie in a research report on Thursday, June 22nd. Zacks Investment Research lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $94.00 target price (up from $92.00) on shares of AbbVie in a research report on Monday, July 17th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $89.90.
In other AbbVie news, Chairman Richard A. Gonzalez sold 193,131 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.00, for a total value of $13,712,301.00. Following the completion of the sale, the chairman now owns 469,623 shares of the company’s stock, valued at $33,343,233. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the completion of the sale, the vice president now directly owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. Over the last three months, insiders have sold 379,890 shares of company stock valued at $27,187,817. 0.23% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of the business. North Star Asset Management Inc. increased its stake in AbbVie by 0.9% in the second quarter. North Star Asset Management Inc. now owns 17,180 shares of the company’s stock valued at $1,246,000 after purchasing an additional 150 shares in the last quarter. Colony Group LLC acquired a new position in shares of AbbVie in the second quarter valued at approximately $306,000. High Falls Advisors Inc boosted its holdings in shares of AbbVie by 1.4% in the second quarter. High Falls Advisors Inc now owns 4,376 shares of the company’s stock valued at $317,000 after buying an additional 60 shares during the period. Keel Point LLC boosted its holdings in shares of AbbVie by 2.7% in the second quarter. Keel Point LLC now owns 8,421 shares of the company’s stock valued at $611,000 after buying an additional 220 shares during the period. Finally, National Asset Management Inc. boosted its holdings in shares of AbbVie by 1.5% in the second quarter. National Asset Management Inc. now owns 26,774 shares of the company’s stock valued at $1,942,000 after buying an additional 389 shares during the period. 68.26% of the stock is owned by hedge funds and other institutional investors.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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