AbbVie Increases Dividend for 54 Years, Yield Exceeds 3.1%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Fool
- Dividend Growth Legacy: AbbVie has increased its dividend by an impressive 333% since its spin-off from Abbott in 2013, marking 54 consecutive years of increases, which positions it as a Dividend King with a current yield exceeding 3.1%, providing investors with a reliable source of passive income.
- Sales Growth Resilience: Despite facing biosimilar competition for its flagship drug Humira, AbbVie has achieved robust sales growth through internal R&D and strategic acquisitions, demonstrating its competitiveness and adaptability in the biopharmaceutical sector.
- Coca-Cola's Stability: Coca-Cola has increased its dividend for 63 consecutive years, with a recent hike of 5.2% and a total growth of approximately 46% over the past decade, resulting in a current yield of 2.9%, reflecting its strong market position and ongoing growth potential in the beverage industry.
- Strong R&D Pipeline: Johnson & Johnson has also maintained a 63-year dividend increase streak, with over 73% growth in the past decade, and is now focused on pharmaceuticals and medical technology, boasting 103 clinical development programs, more than half of which are in late-stage testing or awaiting regulatory approval, indicating significant future growth potential.
Analyst Views on ABBV
Wall Street analysts forecast ABBV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ABBV is 253.26 USD with a low forecast of 218.00 USD and a high forecast of 289.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
22 Analyst Rating
15 Buy
7 Hold
0 Sell
Moderate Buy
Current: 216.750
Low
218.00
Averages
253.26
High
289.00
Current: 216.750
Low
218.00
Averages
253.26
High
289.00
About ABBV
AbbVie Inc. is a global, diversified research-based biopharmaceutical company. It is engaged in research and development, manufacturing, commercialization and sale of medicines and therapies. Its product portfolio includes Immunology, Oncology, Aesthetics, Neuroscience, Eye Care and Other Key Products. Immunology products include rheumatology, dermatology and gastroenterology. Oncology products include Imbruvica, Venclexta/Venclyxto, Elahere and Epkinly. Aesthetics portfolio consists of facial injectables, plastics and regenerative medicine, body contouring, and skincare products. Its Neuroscience products include Botox Therapeutic, Vraylar, Duopa and Duodopa, Ubrelvy, and Qulipta. Eye Care products include Ozurdex, Lumigan/Ganfort, Alphagan/Combigan, Restasis, and other eye care. Other key products include Mavyret/Maviret, Creon, and Linzess/Constella. Its investigational candidate, bretisilocin, is for the treatment of patients with moderate-to-severe major depressive disorder (MDD).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
