Shares of AbbVie Inc. (NYSE:ABBV) hit a new 52-week high during trading on Monday after BMO Capital Markets raised their price target on the stock from $127.00 to $129.00. BMO Capital Markets currently has an outperform rating on the stock. AbbVie traded as high as $114.80 and last traded at $114.75, with a volume of 140690 shares changing hands. The stock had previously closed at $111.50.
A number of other analysts have also recently commented on ABBV. Mizuho upped their price target on shares of AbbVie from $126.00 to $128.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler raised their price objective on shares of AbbVie from $120.00 to $124.00 and gave the stock an “overweight” rating in a research report on Friday, April 30th. Morgan Stanley decreased their price target on shares of AbbVie from $120.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, January 28th. SVB Leerink raised their target price on AbbVie from $140.00 to $144.00 and gave the company an “outperform” rating in a research note on Tuesday, March 30th. Finally, Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research note on Tuesday, February 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $116.94.
In other news, SVP Elaine K. Sorg sold 8,440 shares of the firm’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $108.61, for a total transaction of $916,668.40. Following the completion of the sale, the senior vice president now directly owns 26,035 shares of the company’s stock, valued at approximately $2,827,661.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard A. Gonzalez sold 170,113 shares of AbbVie stock in a transaction on Monday, March 1st. The stock was sold at an average price of $108.61, for a total value of $18,475,972.93. Following the sale, the chief executive officer now owns 450,981 shares in the company, valued at $48,981,046.41. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,067 shares of company stock worth $21,511,667. 0.09% of the stock is owned by corporate insiders.
The stock’s 50 day moving average is $107.95 and its 200 day moving average is $103.98. The company has a market capitalization of $201.01 billion, a PE ratio of 24.08, a PEG ratio of 1.54 and a beta of 0.84. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.81 and a current ratio of 0.95.
AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 29th. The company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.12. AbbVie had a return on equity of 439.24% and a net margin of 18.16%. The firm had revenue of $13.01 billion for the quarter, compared to the consensus estimate of $12.84 billion. During the same quarter in the prior year, the business posted $2.42 earnings per share. The business’s quarterly revenue was up 50.9% on a year-over-year basis. On average, equities research analysts forecast that AbbVie Inc. will post 10.48 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 14th. Investors of record on Thursday, April 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Wednesday, April 14th. This represents a $5.20 dividend on an annualized basis and a yield of 4.57%. AbbVie’s dividend payout ratio (DPR) is 58.17%.
AbbVie Company Profile (NYSE:ABBV)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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