AbbVie (NYSE:ABBV) PT Raised to $196.00

AbbVie (NYSE:ABBV) had its price objective boosted by Morgan Stanley from $191.00 to $196.00 in a report issued on Thursday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

ABBV has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an overweight rating and set a $200.00 target price on shares of AbbVie in a research report on Tuesday, July 9th. Piper Sandler Companies reiterated an overweight rating and issued a $190.00 price objective on shares of AbbVie in a research note on Wednesday, July 3rd. Guggenheim boosted their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a buy rating in a report on Friday, March 22nd. Barclays reduced their price target on AbbVie from $195.00 to $187.00 and set an overweight rating for the company in a research report on Monday, April 29th. Finally, Piper Sandler restated an overweight rating and issued a $190.00 target price on shares of AbbVie in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $182.69.

AbbVie Stock Up 0.2 %

AbbVie stock opened at $170.28 on Thursday. The firm has a market capitalization of $300.69 billion, a price-to-earnings ratio of 50.53, a price-to-earnings-growth ratio of 2.16 and a beta of 0.64. The firm’s fifty day moving average price is $165.23 and its two-hundred day moving average price is $168.58. AbbVie has a 1-year low of $132.70 and a 1-year high of $182.89. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.46 EPS. On average, equities research analysts predict that AbbVie will post 10.8 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 annualized dividend and a yield of 3.64%. AbbVie’s payout ratio is 183.98%.

Institutional Investors Weigh In On AbbVie

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of AbbVie during the fourth quarter valued at about $26,000. Able Wealth Management LLC bought a new position in AbbVie during the 4th quarter valued at approximately $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the 1st quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of AbbVie in the 4th quarter worth approximately $37,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of AbbVie during the first quarter valued at approximately $37,000. 70.23% of the stock is currently owned by 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.