Analysts Set AbbVie Inc. (NYSE:ABBV) Price Target at $190.29

AbbVie Inc. (NYSE:ABBV) has earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $190.29.

ABBV has been the subject of several recent research reports. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research 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 Monday, August 5th. Wells Fargo & Company increased their price target on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Truist Financial restated a “buy” rating and set a $210.00 price objective (up from $195.00) on shares of AbbVie in a research note on Friday, July 26th. Finally, Barclays upped their target price on shares of AbbVie from $187.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 26th.

Insider Transactions at AbbVie

In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total value of $49,497,875.00. Following the completion of the sale, the chairman now directly owns 513,099 shares in the company, valued at $89,792,325. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Richard A. Gonzalez sold 282,845 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the completion of the sale, the chairman now owns 513,099 shares of the company’s stock, valued at $89,792,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares in the company, valued at $83,299,645.48. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of AbbVie during the 4th quarter valued at approximately $3,229,888,000. Vanguard Group Inc. boosted its position in AbbVie by 6.2% in the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after buying an additional 9,978,415 shares in the last quarter. Capital World Investors grew its stake in shares of AbbVie by 249.1% during the first quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after buying an additional 3,120,310 shares during the last quarter. Capital International Investors increased its holdings in shares of AbbVie by 6.9% during the first quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after buying an additional 3,110,601 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of AbbVie by 39.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,422,613 shares of the company’s stock valued at $1,305,252,000 after acquiring an additional 2,390,239 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Price Performance

NYSE ABBV opened at $196.53 on Thursday. The firm’s 50 day moving average is $177.76 and its 200-day moving average is $172.82. The company has a quick ratio of 0.83, a current ratio of 0.94 and a debt-to-equity ratio of 7.93. The company has a market capitalization of $347.05 billion, a PE ratio of 58.32, a price-to-earnings-growth ratio of 2.49 and a beta of 0.64. AbbVie has a 12-month low of $135.85 and a 12-month high of $197.48.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 186.82%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the previous year, the business earned $2.91 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts anticipate that AbbVie will post 10.87 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Monday, July 15th were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Monday, July 15th. AbbVie’s dividend payout ratio is currently 183.98%.

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.