Analysts Set AbbVie Inc. (NYSE:ABBV) Target Price at $205.50

Shares of AbbVie Inc. (NYSE:ABBV) have been assigned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $205.50.

Several brokerages recently issued reports on ABBV. Daiwa America downgraded AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Piper Sandler Companies reiterated an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research note on Tuesday, December 17th. Piper Sandler boosted their price target on AbbVie from $212.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company increased their price objective on shares of AbbVie to $195.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, TD Cowen boosted their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AbbVie

A number of institutional investors have recently bought and sold shares of the stock. Quest Partners LLC lifted its stake in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of AbbVie during the second quarter worth approximately $204,000. GHP Investment Advisors Inc. grew its position in AbbVie by 1.6% during the second quarter. GHP Investment Advisors Inc. now owns 5,801 shares of the company’s stock valued at $995,000 after purchasing an additional 90 shares in the last quarter. Westover Capital Advisors LLC increased its stake in AbbVie by 30.0% in the 2nd quarter. Westover Capital Advisors LLC now owns 11,674 shares of the company’s stock valued at $2,002,000 after buying an additional 2,696 shares during the period. Finally, Schiavi & Co LLC boosted its stake in shares of AbbVie by 8.1% during the 2nd quarter. Schiavi & Co LLC now owns 3,321 shares of the company’s stock valued at $570,000 after buying an additional 249 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Trading Down 0.7 %

NYSE ABBV opened at $175.46 on Friday. The company has a market cap of $310.06 billion, a P/E ratio of 60.92, a P/E/G ratio of 1.92 and a beta of 0.58. AbbVie has a 12 month low of $153.58 and a 12 month high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company has a 50-day moving average of $177.47 and a 200-day moving average of $184.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.95 EPS. As a group, equities analysts predict that AbbVie will post 10.96 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors 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 3.74%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.