Analysts Set AbbVie Inc. (NYSE:ABBV) Target Price at $177.43

Shares of AbbVie Inc. (NYSE:ABBV) have received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $177.43.

A number of research analysts recently issued reports on the stock. Raymond James lifted their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research note on Monday, January 29th. Truist Financial lifted their price objective on shares of AbbVie from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. BMO Capital Markets lifted their price objective on shares of AbbVie from $187.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, February 5th. Finally, Guggenheim lifted their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd.

AbbVie Stock Up 0.2 %

Shares of ABBV opened at $164.66 on Friday. AbbVie has a 12 month low of $130.96 and a 12 month high of $182.89. The firm’s 50 day moving average is $175.59 and its 200-day moving average is $159.97. The stock has a market capitalization of $291.56 billion, a PE ratio of 60.32, a P/E/G ratio of 2.09 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02.

AbbVie (NYSE:ABBV) last announced its earnings results on Friday, February 2nd. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.76 by $0.03. AbbVie had a net margin of 8.95% and a return on equity of 162.28%. The company had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.02 billion. During the same period last year, the firm earned $3.60 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts forecast that AbbVie will post 11.17 EPS for the current year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.55 dividend. The ex-dividend date is Friday, April 12th. This represents a $6.20 annualized dividend and a yield of 3.77%. AbbVie’s payout ratio is 227.11%.

Insider Activity at AbbVie

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares in the company, valued at $10,895,641.39. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 over the last quarter. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Institutional investors have recently made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $26,000. VitalStone Financial LLC increased its position in shares of AbbVie by 218.4% during the second quarter. VitalStone Financial LLC now owns 242 shares of the company’s stock worth $33,000 after acquiring an additional 166 shares in the last quarter. Able Wealth Management LLC bought a new stake in shares of AbbVie during the fourth quarter worth about $33,000. Hibernia Wealth Partners LLC bought a new stake in shares of AbbVie during the third quarter worth about $36,000. Finally, IFS Advisors LLC bought a new stake in shares of AbbVie during the first quarter worth about $36,000. 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.