AbbVie (NYSE:ABBV) Stock Price Up 0.6%

AbbVie Inc. (NYSE:ABBV)’s share price shot up 0.6% during trading on Friday . The company traded as high as $164.92 and last traded at $164.75. 698,038 shares traded hands during trading, a decline of 88% from the average session volume of 5,619,032 shares. The stock had previously closed at $163.84.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ABBV shares. Barclays lowered their price target on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Guggenheim increased their target price on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $190.00 target price on shares of AbbVie in a report on Tuesday. Piper Sandler Companies restated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Wednesday. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.07.

AbbVie Stock Up 1.3 %

The business’s 50 day simple moving average is $164.43 and its 200 day simple moving average is $167.77. The company has a market capitalization of $293.15 billion, a PE ratio of 48.89, a price-to-earnings-growth ratio of 2.10 and a beta of 0.64. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the company posted $2.46 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, analysts forecast that AbbVie Inc. will post 11.27 EPS for the current year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Institutional Investors Weigh In On AbbVie

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after purchasing an additional 9,978,415 shares during the period. Capital International Investors boosted its position in AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after purchasing an additional 3,110,601 shares during the period. Morgan Stanley raised its holdings in AbbVie by 2.9% in the 3rd quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock valued at $4,796,085,000 after acquiring an additional 914,485 shares during the period. Capital Research Global Investors boosted its stake in AbbVie by 3.3% in the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after purchasing an additional 992,496 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in AbbVie by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after purchasing an additional 1,702,415 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

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.