Analysts Set AbbVie Inc. (NYSE:ABBV) Price Target at $199.39

AbbVie Inc. (NYSE:ABBV) has been assigned an average rating of “Moderate Buy” from the twenty research firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $201.00.

A number of brokerages recently commented on ABBV. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of AbbVie in a research note on Monday, August 5th. UBS Group raised their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th. Truist Financial lifted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday.

Institutional Trading of AbbVie

A number of hedge funds have recently bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in shares of AbbVie in the second quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in AbbVie during the 2nd quarter worth about $27,000. Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the third quarter worth about $39,000. Redmont Wealth Advisors LLC acquired a new stake in AbbVie during the 1st quarter worth approximately $37,000. Finally, Quest Partners LLC boosted its holdings in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the period. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 1.5 %

Shares of NYSE ABBV opened at $200.47 on Tuesday. AbbVie has a 52-week low of $135.85 and a 52-week high of $207.32. The firm has a market capitalization of $354.10 billion, a price-to-earnings ratio of 69.61, a PEG ratio of 2.78 and a beta of 0.63. The stock has a 50 day moving average price of $194.18 and a 200 day moving average price of $179.85. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.95 earnings per share. Sell-side analysts expect that AbbVie will post 10.95 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. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.27%. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 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.