Fintel reports that on July 28, 2023, Piper Sandler maintained coverage of Abbvie (NYSE:ABBV) with a Overweight recommendation.
Analyst Price Forecast Suggests 11.62% Upside
As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The forecasts range from a low of 136.35 to a high of $204.75. The average price target represents an increase of 11.62% from its latest reported closing price of 150.85.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Abbvie is 55,229MM, a decrease of 1.42%. The projected annual non-GAAP EPS is 11.88.
Abbvie Declares $1.48 Dividend
On June 22, 2023 the company declared a regular quarterly dividend of $1.48 per share ($5.92 annualized). Shareholders of record as of July 14, 2023 will receive the payment on August 15, 2023. Previously, the company paid $1.48 per share.
At the current share price of $150.85 / share, the stock's dividend yield is 3.92%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.75%, the lowest has been 3.32%, and the highest has been 7.32%. The standard deviation of yields is 0.76 (n=236).
The current dividend yield is 1.08 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.20. 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 is the Fund Sentiment?
There are 4459 funds or institutions reporting positions in Abbvie. This is a decrease of 71 owner(s) or 1.57% in the last quarter. Average portfolio weight of all funds dedicated to ABBV is 0.81%, an increase of 6.40%. Total shares owned by institutions decreased in the last three months by 2.09% to 1,409,147K shares. 
The put/call ratio of ABBV is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 57,899K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 60,910K shares, representing a decrease of 5.20%. The firm decreased its portfolio allocation in ABBV by 13.38% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 54,775K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 53,756K shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in ABBV by 7.22% over the last quarter.
Capital International Investors holds 42,748K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 47,099K shares, representing a decrease of 10.18%. The firm decreased its portfolio allocation in ABBV by 14.22% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 41,266K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 40,882K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in ABBV by 7.69% over the last quarter.
Capital Research Global Investors holds 35,714K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 36,712K shares, representing a decrease of 2.79%. The firm decreased its portfolio allocation in ABBV by 9.41% over the last quarter.
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.
Additional reading:
- AbbVie Inc. Key Product Revenues Quarter Ended June 30, 2023 % Change vs. 2Q22 Net Revenues (in millions) Reported Operationala U.S. Int’l. Total U.S. Int'l. Total Int'l. Total NET REVENUES $10,720 $3,145 $13,865 (6.0)% (0.9)% (4.9)% 2.6% (4.2)% Immu
- AbbVie Inc. Guidance Including the Impact of Acquired IPR&D and Milestones Expense
- Form of AbbVie Inc. Performance-Vested Restricted Stock Unit Agreement*
- Form of AbbVie Inc. Performance Share Award Agreement*
- Form of AbbVie Inc. Non-Employee Director RSU Agreement (US)*
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.
