AbbVie Inc. (NYSE:ABBV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of AbbVie Inc. (NYSE:ABBV) have been given a consensus recommendation of “Moderate Buy” by the fifteen brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $191.64.

A number of equities analysts have commented on ABBV shares. Truist Financial restated a “buy” rating and issued a $210.00 target price (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of AbbVie in a research report on Monday, August 5th. Piper Sandler boosted 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. Morgan Stanley boosted their target price on AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Wells Fargo & Company boosted their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th.

AbbVie Stock Up 0.1 %

Shares of AbbVie stock opened at $194.21 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The firm has a market cap of $343.04 billion, a P/E ratio of 57.63, a P/E/G ratio of 2.66 and a beta of 0.64. AbbVie has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The business has a 50-day moving average price of $186.83 and a 200 day moving average price of $175.22.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. During the same period in the previous year, the firm posted $2.91 earnings per share. AbbVie’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie will post 10.86 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a dividend yield of 3.19%. AbbVie’s dividend payout ratio is currently 183.98%.

Insider Buying and Selling at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at approximately $89,792,325. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Several institutional investors and hedge funds have recently modified their holdings of the stock. Frisch Financial Group Inc. grew its holdings in shares of AbbVie by 0.8% during the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after acquiring an additional 53 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in AbbVie by 1.3% in the second quarter. Capital Advisors Ltd. LLC now owns 4,453 shares of the company’s stock worth $764,000 after purchasing an additional 55 shares in the last quarter. Hilltop Partners LLC boosted its holdings in AbbVie by 1.4% in the second quarter. Hilltop Partners LLC now owns 3,859 shares of the company’s stock worth $662,000 after purchasing an additional 55 shares in the last quarter. Lokken Investment Group LLC boosted its holdings in AbbVie by 3.6% in the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after purchasing an additional 58 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC boosted its holdings in AbbVie by 1.0% in the second quarter. Longfellow Investment Management Co. LLC now owns 5,622 shares of the company’s stock worth $964,000 after purchasing an additional 58 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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.