Shares of AbbVie Inc. (NYSE:ABBV – Get Free Report) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $190.29.
A number of research firms have recently weighed in on ABBV. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a report on Wednesday, June 5th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. 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, BMO Capital Markets raised their price target on AbbVie from $180.00 to $214.00 and gave the company an “outperform” rating in a report on Friday, July 19th.
Read Our Latest Stock Report on ABBV
Insiders Place Their Bets
Hedge Funds Weigh In On AbbVie
A number of institutional investors have recently bought and sold shares of the stock. Fairway Wealth LLC bought a new position in shares of AbbVie in the second quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie during the 2nd quarter valued at $27,000. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the 4th quarter worth $26,000. IFS Advisors LLC purchased a new stake in AbbVie in the 1st quarter worth $36,000. Finally, Redmont Wealth Advisors LLC bought a new stake in AbbVie during the first quarter valued at about $37,000. 70.23% of the stock is owned by institutional investors.
AbbVie Stock Performance
AbbVie stock opened at $196.53 on Thursday. AbbVie has a fifty-two week low of $135.85 and a fifty-two week high of $197.48. The stock’s 50 day simple moving average is $177.76 and its two-hundred day simple moving average is $172.82. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The stock has a market cap of $347.05 billion, a price-to-earnings ratio of 58.32, a PEG ratio of 2.49 and a beta of 0.64.
AbbVie (NYSE:ABBV – Get Free Report) last released 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. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 186.82% and a net margin of 9.71%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.91 EPS. As a group, analysts expect that AbbVie will post 10.87 earnings per share for the current fiscal year.
AbbVie Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Monday, July 15th were given a dividend of $1.55 per share. The ex-dividend date was Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.15%. AbbVie’s dividend payout ratio (DPR) is 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.
Read More
- Five stocks we like better than AbbVie
- What is the Dogs of the Dow Strategy? Overview and Examples
- Top 3 Michael Burry Stock Picks to Watch in 2024
- How to Find Undervalued Stocks
- Target Hits the Mark: Q2 Earnings Exceed Expectations
- How to Effectively Use the MarketBeat Ratings Screener
- Is Tesla’s Rebound Just Starting? Why You Should Consider Buying
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.