Company Update (NYSE:ABBV): AbbVie Declares Quarterly Dividend

[PR Newswire] – The cash dividend is payable May 16, 2016 to stockholders of record at the close of business on April 15, 2016. Since the company’s inception in 2013, AbbVie has increased its dividend by more than 42 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years. AbbVie is a global, research-based biopharmaceutical company formed in 2013 following separation from Abbott Laboratories. Read more on this. AbbVie Inc. (ABBV) , valued at $88.82B, began trading this morning at $55.53. Looking at the stock , its one day range is $54.17 to $55.53 with its 52-week range being $45.45 to $71.60. ABBV shares are currently priced at 10.64x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s -4.96x earnings multiple. And for income investors, the company pays shareholders $2.28 per share annually in dividends, yielding 4.34%. According to a consensus of 15 analysts, the earnings estimate of $1.14 per share would be $0.20 better than the year-ago quarter and a $0.01 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $5.03 would be a $0.74 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $6.03 Billion. If reported, that would be a 19.64% increase over the year-ago quarter. Recently, Morgan Stanley upgraded ABBV from Equal-Weight to Overweight (Nov 2, 2015). Previously, Citigroup upgraded ABBV from Sell to Neutral. The average price target for ABBV shares is $72.25, which is 30.11% above where the stock opened this morning. See more in (NYSE:ABBV) Similar Articles: Company Update: AbbVie Inc (NYSE:ABBV) – Bristol-Myers Squibb and AbbVie Receive FDA Approval of Empliciti™ (elotuzumab) for the Treatment of Patients with Multiple Myeloma Who Have Received One to Three Prior Therapies Company Update: AbbVie Inc (NYSE:ABBV) – FDA warns of serious liver injury risk with Abbvie hep C drugs Stock Update (NYSE:ABBV): AbbVie Declares Quarterly Dividend