AbbVie Inc. (NYSE:ABBV) Plans Quarterly Dividend of $1.64

AbbVie Inc. (NYSE:ABBV - Get Free Report) announced a quarterly dividend on Friday, June 20th, RTT News reports. Investors of record on Tuesday, July 15th will be given a dividend of 1.64 per share on Friday, August 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.54%.

AbbVie has a payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect AbbVie to earn $13.98 per share next year, which means the company should continue to be able to cover its $6.56 annual dividend with an expected future payout ratio of 46.9%.

AbbVie Trading Down 0.1%

Shares of NYSE:ABBV opened at $185.26 on Friday. The company has a debt-to-equity ratio of 44.14, a quick ratio of 0.64 and a current ratio of 0.76. The stock has a market capitalization of $327.24 billion, a price-to-earnings ratio of 78.83, a PEG ratio of 1.23 and a beta of 0.50. AbbVie has a 1-year low of $163.52 and a 1-year high of $218.66. The company has a 50 day moving average price of $184.98 and a 200 day moving average price of $187.60.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 412.03% and a net margin of 7.31%. The company's quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.31 EPS. On average, research analysts anticipate that AbbVie will post 12.31 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AbbVie

A hedge fund recently raised its stake in AbbVie stock. Revolve Wealth Partners LLC lifted its position in AbbVie Inc. (NYSE:ABBV - Free Report) by 72.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,279 shares of the company's stock after buying an additional 3,064 shares during the quarter. Revolve Wealth Partners LLC's holdings in AbbVie were worth $1,294,000 as of its most recent filing with the Securities and Exchange Commission. 70.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Guggenheim upped their price objective on shares of AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley upped their price target on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, April 28th. Erste Group Bank raised shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Wells Fargo & Company lifted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Wall Street Zen lowered AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Eight analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $211.29.

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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