AbbVie Inc. (ABBV) To Go Ex-Dividend on July 15th

AbbVie Inc. (NYSE:ABBV) declared a quarterly dividend on Thursday, June 18th. Stockholders of record on Wednesday, July 15th will be given a dividend of 1.73 per share on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, July 15th.

AbbVie has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 53 years. AbbVie has a dividend payout ratio of 49.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AbbVie to earn $16.30 per share next year, which means the company should continue to be able to cover its $6.92 annual dividend with an expected future payout ratio of 42.5%.

AbbVie Stock Performance

Shares of ABBV opened at $216.63 on Friday. AbbVie has a fifty-two week low of $181.73 and a fifty-two week high of $244.81. The business has a 50-day moving average of $212.18 and a 200 day moving average of $218.76. The firm has a market cap of $382.74 billion, a P/E ratio of 106.71, a price-to-earnings-growth ratio of 0.66 and a beta of 0.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.59 by $0.06. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 earnings per share. As a group, research analysts predict that AbbVie will post 14.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. DZ Bank raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Monday, June 8th. BMO Capital Markets reaffirmed an “outperform” rating on shares of AbbVie in a report on Monday, March 9th. Bank of America upgraded AbbVie from a “neutral” rating to a “buy” rating and set a $234.00 price target for the company in a research report on Thursday, April 30th. Finally, Piper Sandler boosted their price objective on AbbVie from $294.00 to $298.00 and gave the company an “overweight” rating in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $253.43.

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.