AbbVie Inc. (NYSE:ABBV) Receives $205.70 Average Price Target from Analysts

Shares of AbbVie Inc. (NYSE:ABBV) have been given a consensus recommendation of “Moderate Buy” by the twenty-four analysts that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $205.70.

Several brokerages have recently issued reports on ABBV. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research note on Thursday, December 5th. William Blair upgraded AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. UBS Group increased their price target on AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price objective on AbbVie to $195.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. 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 report on Monday, October 7th.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new position in shares of AbbVie during the third quarter worth approximately $999,000. Saturna Capital Corp lifted its stake in AbbVie by 486.1% in the third quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock worth $133,531,000 after purchasing an additional 560,808 shares during the last quarter. Avior Wealth Management LLC boosted its position in AbbVie by 23.5% during the third quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after buying an additional 10,768 shares during the period. Schrum Private Wealth Management LLC grew its stake in shares of AbbVie by 57.5% during the third quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company’s stock valued at $3,282,000 after buying an additional 6,065 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of AbbVie by 8.3% in the third quarter. Venturi Wealth Management LLC now owns 77,864 shares of the company’s stock worth $15,377,000 after buying an additional 5,993 shares during the period. Institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 2.4 %

ABBV stock opened at $175.58 on Wednesday. AbbVie has a 1-year low of $151.29 and a 1-year high of $207.32. The stock has a market cap of $310.27 billion, a P/E ratio of 60.97, a P/E/G ratio of 1.92 and a beta of 0.58. The stock’s fifty day simple moving average is $182.56 and its two-hundred day simple moving average is $183.34. 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 (NYSE:ABBV) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the firm earned $2.95 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Analysts expect that AbbVie will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.74%. This is a boost from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is presently 227.78%.

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.