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

AbbVie Inc. (NYSE:ABBVGet Free Report) 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.

View Our Latest Stock Report on AbbVie

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:ABBVGet Free Report) 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

(Get Free Report

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.

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Analyst Recommendations for AbbVie (NYSE:ABBV)

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