AbbVie (NYSE:ABBV) Stock Price Up 0.3% – What’s Next?

Shares of AbbVie Inc. (NYSE:ABBV) shot up 0.3% during trading on Tuesday . The stock traded as high as $201.21 and last traded at $201.15. 788,448 shares changed hands during trading, a decline of 85% from the average session volume of 5,299,043 shares. The stock had previously closed at $200.47.

Analysts Set New Price Targets

ABBV has been the subject of several recent research reports. Truist Financial boosted their price target on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Piper Sandler boosted their price objective 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. William Blair raised shares of AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price objective on AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $202.72.

AbbVie Trading Down 0.2 %

The stock has a market capitalization of $355.39 billion, a PE ratio of 69.86, a P/E/G ratio of 2.54 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The stock has a 50 day moving average price of $194.41 and a 200-day moving average price of $180.25.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 EPS. Sell-side analysts expect that AbbVie Inc. will post 10.97 earnings per share for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. GGM Financials LLC raised its holdings in AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after acquiring an additional 50 shares during the period. Pine Haven Investment Counsel Inc raised its stake in AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after purchasing an additional 52 shares in the last quarter. Dillon & Associates Inc. raised its position in shares of AbbVie by 0.8% during the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock valued at $1,362,000 after buying an additional 52 shares in the last quarter. Frisch Financial Group Inc. lifted its holdings in shares of AbbVie by 0.8% in the 2nd quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock valued at $1,187,000 after acquiring an additional 53 shares during the last quarter. Finally, First Citizens Financial Corp lifted its stake in shares of AbbVie by 0.9% in the 3rd quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock valued at $1,141,000 after purchasing an additional 53 shares during the last quarter. Institutional investors 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.