AbbVie (NYSE:ABBV) PT Raised to $215.00 at Truist Financial

AbbVie (NYSE:ABBV) had its price target increased by Truist Financial from $210.00 to $215.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on ABBV. Wells Fargo & Company raised their target price on shares of AbbVie from $200.00 to $205.00 and gave the stock an overweight rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price objective on AbbVie from $180.00 to $214.00 and gave the company an outperform rating in a research report on Friday, July 19th. Cantor Fitzgerald reissued an overweight rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. UBS Group raised their target price on AbbVie from $185.00 to $195.00 and gave the company a neutral rating in a research note on Wednesday, October 9th. Finally, Piper Sandler upped their price target on AbbVie from $196.00 to $209.00 and gave the stock an overweight rating in a research note on Friday, August 23rd. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $198.00.

AbbVie Price Performance

Shares of AbbVie stock opened at $194.19 on Thursday. The company’s fifty day simple moving average is $194.08 and its two-hundred day simple moving average is $177.37. AbbVie has a 12-month low of $135.85 and a 12-month high of $199.95. The firm has a market cap of $342.91 billion, a PE ratio of 57.62, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. AbbVie’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.91 EPS. As a group, equities analysts expect that AbbVie will post 10.85 EPS for the current year.

AbbVie Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.19%. AbbVie’s payout ratio is currently 183.98%.

Insider Buying and Selling at AbbVie

In other AbbVie 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 transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the business’s stock in a transaction dated Wednesday, July 17th. The stock was 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 directly owns 513,099 shares in the company, valued at $89,792,325. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was 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 owns 446,599 shares in the company, valued at $83,299,645.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bell Investment Advisors Inc increased its stake in shares of AbbVie by 6.6% in the fourth quarter. Bell Investment Advisors Inc now owns 2,031 shares of the company’s stock worth $315,000 after purchasing an additional 126 shares in the last quarter. Baird Financial Group Inc. increased its stake in AbbVie by 0.6% in the 4th quarter. Baird Financial Group Inc. now owns 2,095,667 shares of the company’s stock worth $324,766,000 after buying an additional 12,389 shares in the last quarter. Buckingham Strategic Wealth LLC raised its holdings in AbbVie by 2.7% during the fourth quarter. Buckingham Strategic Wealth LLC now owns 91,743 shares of the company’s stock valued at $14,217,000 after acquiring an additional 2,420 shares during the period. Garden State Investment Advisory Services LLC lifted its position in shares of AbbVie by 4.6% in the fourth quarter. Garden State Investment Advisory Services LLC now owns 3,253 shares of the company’s stock valued at $504,000 after acquiring an additional 142 shares in the last quarter. Finally, Groupama Asset Managment purchased a new stake in shares of AbbVie during the fourth quarter worth about $13,572,000. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

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.