Terms of Service | As growth continues, operating margins are expected to expand by 100-200 basis points per year to drive double-digit earnings growth. The company last increased its dividend by 12% in October 2015 and is included on the dividend aristocrats list despite being spun off at the start of 2013, when it continued its dividend growth streak as an independent business. General Electric: Another Dividend Cut Expected in 12 to 18 Months simplysafedividends.com/general-electr… #dividend, Roper Technologies (ROP) simplysafedividends.com/roper-technolo… #dividend. Thanks, Jim. Disclaimer | Of this total, roughly half of total sales would come from the company’s arthritis drug Humira, and another 13.5% would come from sales of leukemia drug Imbruvica. For the time being, AbbVie’s dividend payment is extremely safe. We believe AbbVie will continue recording at least a high-single dividend growth rate for the next few years. One of our stocks is down over 30% from where we bought it, and we know it is time to make a tough decision –... High dividend stocks are popular holdings in retirement portfolios. AbbVie’s composition of matter patents for Humira expire in the U.S. and Europe in December 2016 and October 2018, respectively. Dividend Safety Score: 75 Dividend Yield: 5.21% Dividend Growth Streak: 17 years After issuing shares to help finance the cash-and-stock deal, AbbVie's annual dividend commitment, using its current payout of $4.28 per share, will rise to about $7.5 billion. While the market’s expectations seem to bake in a good amount of caution today, it’s still hard to get comfortable with AbbVie’s competitive landscape over the next five years. This rating is reserved for companies with strong balance sheets and/or excellent dividend histories. A low score does not mean there will be a dividend cut but it gives me a warning signal to suggest that ABBV dividend safety could be at risk. The company received a Dividend Safety Score of 78, which is excellent and places it in the top quartile of dividend-paying stocks. ABBV’s long-term dividend and fundamental data charts can all be seen by clicking here. In AbbVie’s case, over half of its business is concentrated in one product. Scores of 50 are average, 75 or higher is very good, and 25 or lower is considered weak. AbbVie Inc (NYSE: ABBV) is a research-driven biopharmaceutical company that was spun off from Abbott Laboratories (NYSE: ABT) in 2013. Which category does AbbVie fall … Dividend Safety Scores range from 0 to 100. Dominion made its dividend cut official this week, reducing its fourth-quarter payout by 33% after closing a deal to sell its natural... AltaGas's Falling Leverage Supports Dividend But Firm Will Evaluate Splitting Off Midstream Business. This dividend growth rate is below the 10.6% used in this analysis, thus providing a large margin of safety. You're reading an article by Simply Safe Dividends, the makers of online portfolio tools for dividend investors. AbbVie (NYSE:ABBV) Piotroski F-Score Explanation The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews. Safe Dividend Stocks to Buy for Retirement: AbbVie (ABBV) Dividend Safety Score: 83 Dividend Yield: 3.8% Dividend Growth Streak: 4 years. Most dividend aristocrats possess the characters we desire when searching for safe dividend stocks. He graduated from the University of Illinois with a B.S. AbbVie was spun off by Abbott Laboratories in 2013. AbbVie’s Dividend Growth score of 89 is excellent. AbbVie’s management team expects the company to reach $37 billion in sales by 2020, which would represent more than a 60% increase from 2015’s revenue level. Johnson & Johnson is a great example. The Smart Dividend Safety Score shows early warning signs of a dividend cut, before it happens. Dividend.com: The #1 Source For Dividend Investing. A stock’s Dividend Safety Score represents its safety rank relative to all of the other dividend-paying stocks in the market. It’s up to management now to deliver on the pipeline and offset any drop in Humira when the time comes. Dividend Safety Grade: C. A grade indicates an extremely low probability of a dividend cut. Major pharma players invest billions of dollars and years of time in research and development to commercialize breakthrough drugs. Read more for all the details. Dividend Safety Grade: B. Dividend Safety Score Our Safety Score answers the question, “Is the current dividend payment safe?” However, the company hopes that it can litigate against biosimilar manufacturers of Humira for at least four or five years based on industry norms and its non-composition of matter patents. The bigger challenge, however, is AbbVie’s profit drivers. ABBV's dividend yield, history, payout ratio, proprietary DARS™ rating & much more! Dividend Risk Score: A Retirement Suitability Score: A Last Dividend Increase: 10.3% Overview & Current Events AbbVie is a biotechnology company focused on developing and commercializing drugs for immunology, oncology and virology. Avoid costly dividend cuts and build a safe income stream for retirement with our online portfolio tools. The bigger risk to sales cyclicality is patent expirations of major drugs such as Humira. Our Growth Score answers the question, “How fast is the dividend likely to grow?” It considers many of the same fundamental factors as the Safety Score but places more weight on growth-centric metrics like sales and earnings growth and payout ratios. You can read our analysis of Johnson & Johnson by clicking here. AbbVie also expects to launch over 20 new products by 2020 to reach to its goals and believes that its current pipeline has potential to achieve revenues of nearly $30 billion by 2024. As patents expire, lower-cost competition emerges with knock-offs that quickly erode sales and margins. Boost Your Portfolio: Start a Free Trial! Try Simply Safe Dividends FREE for 14 days. Like all pharmaceutical companies, ABBV is faced with competition … in accounting in 1989, received an M.B.A. from Indiana University in 1994. While pharmaceuticals drive over half of the company’s profits, it is well diversified by drug and gets reliable cash flows from its consumer products and medical devices segments. The Dividend Kings Safety Model Is based on 58 safety metrics (up from 55 in the last ABBV video). The main wild card impacting future dividend growth beyond the next few years is the rise of Humira competition, which could come as early as 2019 or as late as 2022. Interpreting Dividend Safety Scores Dividend Safety Scores range from 0 to 100. Regardless of the ultimate timing, branded drugs cannot maintain their high profit margins forever. The branded pharmaceuticals industry has extremely high barriers to entry and offers potential for juicy profit margins – AbbVie generated a 33% operating margin last year and targets a 50% margin by 2020. Dividend Risk Score: C Retirement Suitability Score: B Last Dividend Increase: 10.3% Overview & Current Events AbbVie is a biotechnology company focused on developing and commercializing drugs for immunology, oncology and virology. With expectations for double-digit earnings growth through 2020, AbbVie’s total return potential certainly looks attractive at first glance. Few businesses can generate operating margins in the teens, much less in the 30% range like AbbVie has done. The seemingly low expectations attached to the stock are a reflection of investors’ concerns about AbbVie’s concentration in its Humira drug, which is set to experience competition in the U.S. market sometime over the next three to six years. Management expects margins to hit 50% by 2020, highlighting the extreme profitability enjoyed by pharma companies. We look at factors such as current and … The key issue is how long the company’s Humira drug can profit in the U.S. before biosimilar competition emerges. The stock's 5.4% dividend yield is also at an all-time high, causing some investors to worry that AbbVie's dividend might no longer be safe. Dividend Safety Metrics Estimated Future Total Return Metrics AbbVie Inc. (ABBV) Valuation AbbVie Inc.’s current dividend yield of 4.43% is 20% above its 5-year average. AbbVie's management team expects the company to reach $37 billion in sales by 2020, which would represent more than a 60% increase AbbVie Dividend Safety: 74% = 4/5 Above-Average. We prefer to invest in pharmaceuticals that have diversified streams of income from their drugs. If Humira’s revenue unexpectedly shrinks over the next five years, the balance sheet could become strained. We don’t have data that goes back to the last recession, but pharma companies are generally recession-resistant because consumers still need to treat their illnesses regardless of how the economy is doing. B grade indicates a very low probability for a dividend cut. Despite raising its 2019 guidance last week, shares of biotech giant AbbVie (ABBV) remain mired in a bear market and sit almost 40% below their all-time high set back in early 2018. The company obviously hopes to use these patents to litigate against new biosimilar competition for Humira, and it was successful earlier this year in defending against a patent review case filed by Amgen last year. The Dividend Growth Journey continues: $521.74 of dividend income, a nasty 50% dividend cut from ET, purchases of 6 companies adding $367 to my PADI., and the Dividend Safety Score improved to 61.3. Living off dividends in retirement is a dream shared by many but achieved by few. While this can work for some companies that have powerful brands (e.g. This rating is reserved for companies with strong balance sheets and/or excellent dividend histories. Given AbbVie’s strong outlook over the next few years for continued growth, we think its payout ratio is very healthy for the time being. Also, some of my stock have no dividend scoring available anymore. There are certainly more factors to consider with ABBV than most of the other dividend aristocrats. My pleasure! Years of research and development spending has already been realized, so the company gets to enjoy healthy profits. Have an order in to buy but have to admit that I have future concerns about Humira. However, dividend investors must be willing to accept the higher uncertainty surrounding the company’s cash flows beyond 2020. For a stock with above-average growth prospects over the next few years, it appears to be very reasonably priced. Pfizer announced on Monday its COVID-19 vaccine candidate was found to be more than 90% effective, and no serious safety concerns had... Dominion's Lower Dividend and New Business Mix Improve Safety Profile; We Plan to Hold Our Shares. As a relatively new spin-off (2013), the company has a much shorter dividend growth track record than traditional aristocrats. Pfizer’s COVID-19 Vaccine Shows Promise; Spin-off to Execute November 13 With Dividend Adjustment Next Quarter, Dominion’s Lower Dividend and New Business Mix Improve Safety Profile; We Plan to Hold Our Shares, AltaGas’s Falling Leverage Supports Dividend But Firm Will Evaluate Splitting Off Midstream Business, Altria’s Tobacco Business Remains Resilient But Longer-term Growth Uncertainties Linger, some analysts see competition emerging in 2019. AbbVie was spun off from Abbott Laboratories on January 1, 2013, as a standalone biopharmaceutical company. AbbVie’s free cash flow payout ratio over the last 12 months is a healthy 49%, which is roughly in line with the company’s payout ratios realized since it was spun off in 2013. Last September, JPMorgan Chase, which yields 3.1%, boosted its quarterly dividend to 80 cents a share from 56 cents. Like all pharmaceutical companies, ABBV is faced with competition … Business model and growth perspective. Pharmaceutical maker AbbVie (NYSE:ABBV) has been caught in the downdraft, down 7% since the beginning of the year. While management believes Humira sales can exceed $18 billion in 2020, some analysts see Humira revenue coming up at least 30% short of management’s ambitions. Overall, AbbVie’s dividend looks very safe at the moment. Standard & Poor’s and Morningstar have given the company A and A- credit ratings, respectively. The company pays a juicy 5.9% dividend. The company has a healthy payout ratio, generates plenty of free cash flow, and is enjoying double-digit earnings growth. ABBV’s long-term dividend and fundamental data charts can all be seen by clicking here. However, AbbVie could cover all of its debt using the $8.4 billion it has in cash and about 3.1 years’ worth of earnings before interest and taxes (EBIT), which is reasonably healthy. Privacy Policy | AbbVie needs to develop new drugs that can eventually replace those sales or else it could see a steep revenue decline that could endanger the dividend. By comparing companies’ Dividend Scores, you can easier select quality dividend stocks and improve your chances of generating dividend income and preserving capital in the long run. Sales of Humira accounted for over 60% of sales last year and are expected to represent nearly 50% of revenue by 2020 as well. mounting political pressure to lower drug prices, our May 2019 note reviewing AbbVie's underperformance, Try Simply Safe Dividends FREE for 14 days. As we mentioned earlier, pharma manufacturers generate excellent free cash flow when they successfully commercial a major drug. Our Safety Score answers the question, “Is the current dividend payment safe?” We look at factors such as current and historical EPS and FCF payout ratios, debt levels, free cash flow generation, industry cyclicality, ROIC trends, and more. Clorox or Coca-Cola), it’s a risk in AbbVie’s market of branded pharmaceutical drugs and makes the stock less desirable for our Top 20 Dividend Stocks portfolio. This is a key point of controversy surrounding the stock. About Us | We will re-evaluate AbbVie’s dividend growth potential as that time draws nearer. For example, during one week in October 2015, AbbVie’s stock fell by more than 10% after the FDA warned that AbbVie’s Viekira treatment caused liver injury to a small number of patients. Abbott Laboratories, which spun off AbbVie, has a dividend growth streak of more than 40 consecutive years and is the reason why AbbVie is considered a dividend aristocrat. Unfortunately, we don’t have an edge when it comes to analyzing this risk, nor do we have a comfortable method of evaluating AbbVie’s large pipeline of new drugs that will launch over the next five years. C grade indicates a low probability for a dividend cut and/or average safety risk. The difference of just a few years could really make or break the stock’s performance over the coming years. A score of 50 is average, 75 or higher is excellent, and 25 or lower is weak. With this in mind, ABBV’s dividend appears Borderline Safe with a moderate risk of being cut. A sustainable business model is essential to maintain future dividends and dividend … With this in mind, ABBV’s dividend appears Borderline Safe, with a moderate risk of being cut. Growth will be fueled by the company’s reasonable free cash flow payout ratio of 49% and strong business fundamentals as drug sales and margins are expected to increase significantly through 2020. Contact Us, COPYRIGHT © 2017 Simply Safe Dividends LLC, AbbVie (ABBV): A Cheap Dividend Aristocrat Yielding Over 4%. AbbVie Dividend Safety Score. I have been considering whether I should sell my holdings in ABBV and this article has given me a lot to consider. However, the stock’s safe 4.1% dividend yield, relatively cheap forward earnings multiple of 11.1, and above-average earnings growth prospects over the next few years make it worth a closer look. Based in North Chicago, AbbVie (ABBV) is in the Medical sector, and so far this year, shares have seen a price change of -29.01%. A grade indicates an extremely low probability of a dividend cut. AbbVie's Dividend Safety Score Downgraded to Borderline Safe Following Large Deal to Buy Allergan. If successful, AbbVie believes it can maintain strong profitability in the U.S. through 2022, but there is plenty of skepticism surrounding the matter. In addition to the risk posed by Humira’s large contribution to company profits, the Food and Drug Administration (FDA) can also pose unexpected challenges. ABBV’s long-term dividend and fundamental data charts can all be seen by clicking here. AbbVie (ABBV) is one of the more controversial dividend aristocrats for several reasons. We would like to see AbbVie reduce its debt over the next few years while it is generating strong free cash flow from Humira. Still several years away it seems. Our Safety Score answers the question, “Is the current dividend … Glad to hear the article provided some clarity for you. B grade indicates a very low probability for a dividend cut. At first glance, the company’s $31.7 billion debt burden, largely resulting from AbbVie’s $21 billion acquisition of Pharmacyclics in 2015, does raise some eyebrows. It’s very hard for a complete outsider to forecast the timing and profitability of a company’s drug pipeline, so finding businesses with enough diversification helps reduce this risk. Thanks for this great analysis of ABBV. Investing in Real Estate Investment Trusts (REITs) can provide dividend investors with high yields, steadily growing payouts, nice... We have all been there. While the success rate is low, a successful drug can generate billions in profits that are protected for many years as a result of the intellectual property owned by the manufacturer. This dividend growth rate is below the 12.8% used in this analysis, thus providing a large margin of safety. The consensus 2019 earnings estimate is $9.76 a … Pfizer's COVID-19 Vaccine Shows Promise; Spin-off to Execute November 13 With Dividend Adjustment Next Quarter. Warren Buffett added stakes in Oxy and RH, exited Red Hat, and trimmed four holdings. AbbVie was spun off by Abbott Laboratories in 2013. Glad you found the article useful. June 26, 2019. However, Evercore ISI’s analyst Mark Schoenebaum estimated that AbbVie’s 2020 guidance for sales and margins implies adjusted earnings per share of approximately $8.80. Given AbbVie’s strong outlook over the … With that said, AbbVie has increased its dividend by 42% since 2013 with increases each year. Approximately 61% of the company’s revenue comes from sales of Humira, a drug that treats arthritis. However, the trajectory that Humira’s revenue takes beyond the next few years, coupled with developments in AbbVie’s drug pipeline, will significantly impact the safety of the dividend from 2020 and beyond. The drugmaker owns the largest-selling drug in the world – Humira, which brought in $19.9 billion in revenue last year. The stock price resulting from his analysis was about $100 per share, which is nearly 100% higher than AbbVie’s most recent closing price. ABBV’s stock trades at 11.1x forward earnings estimates and has a dividend yield of 4.1%. Dividend Safety Scores range from 0 to 100. If new drugs have not been successful in the pipeline, earnings can erode very quickly. AbbVie Inc. (ABBV) Dividend Scorecard | Seeking Alpha ABBV - AbbVie Inc. 105.55 0.84 (0.81%) Best of luck with your decision, and thanks for commenting! THe new dividend safety score seems very different for many of my stocks compared to the previous scoring. The flop of any one drug will not endanger the business. Dividend aristocrats are S&P 500 companies that have raised their dividends for 25+ years. Simply Safe Dividends (SSD) awards a safety score of 50 out of 100 points, a grade that it calls “borderline safe.” SSD lowered ABBV’s safety score in 2019 from 61 (“safe”) to 50 (“borderline safe”) upon the announcement of AbbVie’s intent to acquire Allergan in an $80 billion deal. Our Dividend Safety Score analyzes 25+ years of dividend data and 10+ years of fundamental data to answer the question, “Is the current dividend payment safe?” We look at factors such as current and historical EPS and free cash flow payout ratios, debt levels, free cash flow generation, industry cyclicality, profitability trends, and more. For the time being, AbbVie’s dividend payment is extremely safe. AbbVie (NYSE: ABBV) gets a lot of attention these days, and most of it is not positive.. Both AbbVie and Allergan had seen their stock prices languish in recent years as investors worried about each firm's future growth potential. AbbVie’s forecast assumes that biosimilar versions of Humira will stay out of the U.S. until 2022, whereas some analysts see competition emerging in 2019. Years, the balance sheet could become strained we desire when searching for safe dividend stocks using a %! 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