Brokerages Set AbbVie Inc. (NYSE:ABBV) PT at $191.64

AbbVie Inc. (NYSE:ABBV) has been given an average rating of “Moderate Buy” by the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $198.00.

A number of research firms recently commented on ABBV. UBS Group boosted their target price on shares of AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley boosted their target price on shares of AbbVie from $211.00 to $218.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a report on Monday, August 5th. 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 report on Monday. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a report on Friday, August 30th.

Insider Activity at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by insiders.

Institutional Trading of AbbVie

A number of institutional investors and hedge funds have recently modified their holdings of ABBV. Vermillion & White Wealth Management Group LLC acquired a new position in AbbVie during the 4th quarter valued at $26,000. Fairway Wealth LLC acquired a new position in AbbVie during the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in AbbVie during the 2nd quarter valued at $27,000. Able Wealth Management LLC acquired a new position in AbbVie during the 4th quarter valued at $33,000. Finally, IFS Advisors LLC acquired a new position in shares of AbbVie in the 1st quarter valued at $36,000. 70.23% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.2 %

ABBV stock opened at $194.31 on Friday. AbbVie has a 52 week low of $135.85 and a 52 week high of $199.95. The company has a market capitalization of $343.13 billion, a price-to-earnings ratio of 57.66, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. The firm’s 50-day moving average is $193.89 and its two-hundred day moving average is $177.18. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

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

AbbVie Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s payout ratio is presently 183.98%.

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.