Brokerages Set AbbVie Inc. (NYSE:ABBV) Target Price at $203.50

AbbVie Inc. (NYSE:ABBV) has received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $203.50.

A number of brokerages have commented on ABBV. Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Citigroup dropped their target price on AbbVie from $226.00 to $215.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Piper Sandler increased their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. TD Cowen increased their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th.

AbbVie Price Performance

Shares of ABBV stock opened at $177.06 on Friday. The stock has a 50 day moving average of $189.09 and a two-hundred day moving average of $181.44. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie has a 12 month low of $137.65 and a 12 month high of $207.32. The company has a market capitalization of $312.89 billion, a P/E ratio of 61.48, a P/E/G ratio of 2.16 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the company earned $2.95 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts expect that AbbVie will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.70%. AbbVie’s payout ratio is currently 227.78%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. China Universal Asset Management Co. Ltd. bought a new stake in AbbVie in the first quarter valued at approximately $646,000. Quent Capital LLC raised its stake in AbbVie by 3.3% in the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after buying an additional 283 shares during the period. Bank of Nova Scotia Trust Co. bought a new stake in AbbVie in the first quarter valued at approximately $201,000. Bellevue Group AG raised its stake in AbbVie by 310.2% in the first quarter. Bellevue Group AG now owns 27,593 shares of the company’s stock valued at $5,025,000 after buying an additional 20,866 shares during the period. Finally, Beaird Harris Wealth Management LLC raised its stake in AbbVie by 9.9% in the first quarter. Beaird Harris Wealth Management LLC now owns 2,113 shares of the company’s stock valued at $385,000 after buying an additional 191 shares during the period. 70.23% of the stock is currently owned by institutional investors.

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.