AbbVie Inc. (NYSE:ABBV – Get Free Report) has earned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $194.67.
Several brokerages have weighed in on ABBV. Piper Sandler increased their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price target (up from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Finally, Barclays increased their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday.
Get Our Latest Stock Report on AbbVie
Insiders Place Their Bets
Institutional Trading of AbbVie
Several institutional investors have recently added to or reduced their stakes in ABBV. 1832 Asset Management L.P. lifted its position in shares of AbbVie by 1.5% during the 4th quarter. 1832 Asset Management L.P. now owns 58,817 shares of the company’s stock worth $9,115,000 after purchasing an additional 864 shares during the last quarter. Morningstar Investment Services LLC grew its position in AbbVie by 110.6% during the fourth quarter. Morningstar Investment Services LLC now owns 10,694 shares of the company’s stock worth $1,655,000 after buying an additional 5,616 shares during the period. Cutler Capital Management LLC grew its position in AbbVie by 3.8% during the fourth quarter. Cutler Capital Management LLC now owns 3,815 shares of the company’s stock worth $591,000 after buying an additional 139 shares during the period. Prudential PLC lifted its holdings in shares of AbbVie by 5.2% in the fourth quarter. Prudential PLC now owns 220,224 shares of the company’s stock valued at $34,128,000 after purchasing an additional 10,933 shares in the last quarter. Finally, Schroder Investment Management Group lifted its holdings in shares of AbbVie by 3.3% in the fourth quarter. Schroder Investment Management Group now owns 1,893,531 shares of the company’s stock valued at $293,440,000 after purchasing an additional 60,942 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.
AbbVie Price Performance
NYSE ABBV opened at $192.99 on Friday. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The stock’s fifty day moving average price is $193.58 and its 200 day moving average price is $176.95. AbbVie has a 1 year low of $135.85 and a 1 year high of $199.95. The company has a market cap of $340.79 billion, a price-to-earnings ratio of 57.27, a PEG ratio of 2.65 and a beta of 0.63.
AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the prior year, the firm earned $2.91 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts forecast that AbbVie will post 10.86 earnings per share for the current year.
AbbVie Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.
About AbbVie
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.
Featured Articles
- Five stocks we like better than AbbVie
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- NVIDIA’s AI Dominance: Why Analysts Predict Major Upside Ahead
- Top Biotech Stocks: Exploring Innovation Opportunities
- These Stocks Are Using Buybacks to Unlock Big Gains for Investors
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- This Is the Entry Into PepsiCo You’ve Been Waiting For
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.