AbbVie Inc. (NYSE:ABBV) Given Average Rating of “Moderate Buy” by Brokerages

Shares of AbbVie Inc. (NYSE:ABBV) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $203.50.

Several research analysts recently weighed in on the company. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective for the company. Truist Financial raised their price objective on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Piper Sandler upped their target price on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price target on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Finally, Leerink Partnrs upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at $28,000. Fairway Wealth LLC acquired a new stake in AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new stake in AbbVie during the 2nd quarter worth about $27,000. Marquette Asset Management LLC acquired a new position in shares of AbbVie during the 3rd quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Stock Up 1.1 %

Shares of NYSE:ABBV opened at $183.09 on Friday. AbbVie has a 52-week low of $137.65 and a 52-week high of $207.32. The stock has a market cap of $323.55 billion, a P/E ratio of 63.57, a PEG ratio of 2.02 and a beta of 0.63. The business has a fifty day moving average of $188.65 and a two-hundred day moving average of $181.59. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $2.95 earnings per share. On average, research 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. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.58%. AbbVie’s payout ratio is currently 215.28%.

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.