AbbVie Inc. (NYSE:ABBV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

AbbVie Inc. (NYSE:ABBVGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $201.00.

Several equities research analysts have issued reports on ABBV shares. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Bank of America lifted their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. UBS Group lifted their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday. Sanford C. Bernstein started coverage on shares of AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price target for the company. Finally, Citigroup lifted their price target on shares of AbbVie from $215.00 to $226.00 and gave the company a “buy” rating in a research report on Thursday.

Read Our Latest Research Report on ABBV

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Several institutional investors have recently modified their holdings of ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie in the second quarter worth $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie in the second quarter worth $27,000. Quest Partners LLC grew its stake in shares of AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of AbbVie in the first quarter worth $37,000. Finally, Marquette Asset Management LLC bought a new stake in shares of AbbVie in the third quarter worth $39,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.2 %

Shares of ABBV stock opened at $203.55 on Tuesday. The firm has a 50 day moving average price of $194.12 and a two-hundred day moving average price of $179.49. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company has a market capitalization of $359.54 billion, a PE ratio of 70.68, a price-to-earnings-growth ratio of 2.76 and a beta of 0.63. AbbVie has a 12-month low of $135.85 and a 12-month high of $207.32.

AbbVie (NYSE:ABBVGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 226.99%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $2.95 earnings per share. As a group, analysts predict that AbbVie will post 10.9 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is presently 215.28%.

About AbbVie

(Get Free Report

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.

Further Reading

Analyst Recommendations for AbbVie (NYSE:ABBV)

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