On April 5, 2023, Argus Research downgraded their outlook for AbbVie (NYSE:ABBV) from Buy to Hold .
Analyst Price Forecast Suggests 4.61% Upside
As of March 30, 2023, the average one-year price target for AbbVie is $167.15. The forecasts range from a low of $136.35 to a high of $210.00. The average price target represents an increase of 4.61% from its latest reported closing price of $159.78.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for AbbVie is $55,229MM, a decrease of 4.87%. The projected annual non-GAAP EPS is $11.88.
AbbVie Declares $1.48 Dividend
On February 16, 2023 the company declared a regular quarterly dividend of $1.48 per share ($5.92 annualized). Shareholders of record as of April 14, 2023 will receive the payment on May 15, 2023. Previously, the company paid $1.48 per share.
At the current share price of $159.78 / share, the stock's dividend yield is 3.71%. Looking back five years and taking a sample every week, the average dividend yield has been 4.74%, the lowest has been 3.32%, and the highest has been 7.32%. The standard deviation of yields is 0.77 (n=237).
The current dividend yield is 1.34 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.88. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
ALLIANZ VARIABLE INSURANCE PRODUCTS TRUST - AZL S&P 500 Index Fund Class 1 holds 132K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 135K shares, representing a decrease of 2.22%. The firm increased its portfolio allocation in ABBV by 12.59% over the last quarter.
Lyell Wealth Management holds 2K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing an increase of 13.32%. The firm increased its portfolio allocation in ABBV by 28.96% over the last quarter.
ELDFX - ELFUN DIVERSIFIED FUND Elfun Diversified Fund holds 3K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 3K shares, representing an increase of 2.95%. The firm increased its portfolio allocation in ABBV by 20.27% over the last quarter.
Kennedy Capital Management holds 1K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Aptus Capital Advisors holds 63K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 56K shares, representing an increase of 12.45%. The firm increased its portfolio allocation in ABBV by 75.45% over the last quarter.
What is the Fund Sentiment?
There are 4533 funds or institutions reporting positions in AbbVie. This is an increase of 166 owner(s) or 3.80% in the last quarter. Average portfolio weight of all funds dedicated to ABBV is 0.78%, a decrease of 11.63%. Total shares owned by institutions increased in the last three months by 1.08% to 1,442,222K shares. The put/call ratio of ABBV is 0.69, indicating a bullish outlook.
Abbvie Background Information
(This description is provided by the company.)
AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. The Company strives to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio.
See all AbbVie regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
