AbbVie Inc. (NYSE:ABBV) Receives $179.64 Average Price Target from Analysts

Shares of AbbVie Inc. (NYSE:ABBV) have received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $179.64.

ABBV has been the topic of a number of recent analyst reports. HSBC upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Wednesday, June 5th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of AbbVie in a report on Thursday, June 20th. Piper Sandler reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Tuesday. Piper Sandler Companies reaffirmed an “overweight” rating and set a $190.00 price objective on shares of AbbVie in a research report on Wednesday. Finally, Barclays reduced their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a research report on Monday, April 29th.

AbbVie Price Performance

NYSE ABBV opened at $165.97 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. AbbVie has a 12-month low of $132.70 and a 12-month high of $182.89. The company has a market capitalization of $293.08 billion, a PE ratio of 49.25, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. The firm’s 50 day moving average is $164.65 and its 200-day moving average is $167.74.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 earnings per share. Equities research analysts anticipate that AbbVie will post 11.27 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Monday, July 15th. AbbVie’s dividend payout ratio (DPR) is presently 183.98%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American National Bank raised its stake in AbbVie by 4.8% in the fourth quarter. American National Bank now owns 59,392 shares of the company’s stock valued at $9,204,000 after purchasing an additional 2,695 shares in the last quarter. AXS Investments LLC raised its stake in AbbVie by 3.3% during the fourth quarter. AXS Investments LLC now owns 9,530 shares of the company’s stock worth $1,477,000 after acquiring an additional 307 shares in the last quarter. TCI Wealth Advisors Inc. raised its stake in AbbVie by 1.0% during the fourth quarter. TCI Wealth Advisors Inc. now owns 17,043 shares of the company’s stock worth $2,641,000 after acquiring an additional 165 shares in the last quarter. Mizuho Markets Americas LLC raised its stake in AbbVie by 33.4% during the fourth quarter. Mizuho Markets Americas LLC now owns 30,914 shares of the company’s stock worth $4,791,000 after acquiring an additional 7,737 shares in the last quarter. Finally, Amplius Wealth Advisors LLC raised its stake in AbbVie by 17.6% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,668 shares of the company’s stock worth $413,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

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.