AbbVie Inc. (NYSE:ABBV) Receives $179.64 Average Target Price from Analysts

AbbVie Inc. (NYSE:ABBV) has been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $179.64.

Several research firms have recently commented on ABBV. BMO Capital Markets dropped their price objective on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating on the stock in a report on Monday, April 29th. Piper Sandler increased their price target on AbbVie from $185.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 18th. Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Thursday, June 20th. Finally, Guggenheim boosted their price target on AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a report on Friday, March 22nd.

Hedge Funds Weigh In On AbbVie

Several hedge funds and other institutional investors have recently made changes to their positions in ABBV. Vanguard Group Inc. lifted its stake in AbbVie by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after purchasing an additional 9,978,415 shares in the last quarter. Capital International Investors increased its holdings in shares of AbbVie by 6.9% in the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after purchasing an additional 3,110,601 shares during the last quarter. Morgan Stanley lifted its position in AbbVie by 2.9% during the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares in the last quarter. Capital Research Global Investors boosted its stake in AbbVie by 3.3% during the first quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock worth $5,698,847,000 after buying an additional 992,496 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock valued at $3,774,569,000 after buying an additional 1,702,415 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

Shares of ABBV opened at $171.52 on Wednesday. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. The company’s fifty day moving average price is $164.60 and its 200-day moving average price is $167.44. AbbVie has a 1-year low of $132.13 and a 1-year high of $182.89. The firm has a market capitalization of $302.88 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The company had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, equities research analysts predict that AbbVie will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.61%. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.