Barclays Increases AbbVie (NYSE:ABBV) Price Target to $212.00

AbbVie (NYSE:ABBVFree Report) had its price objective upped by Barclays from $200.00 to $212.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently weighed in on the company. William Blair upgraded AbbVie to a strong-buy rating in a research note on Friday, August 30th. TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a buy rating in a research note on Monday. Cantor Fitzgerald reiterated an overweight rating and issued a $200.00 price target on shares of AbbVie in a research note on Monday, August 5th. BMO Capital Markets increased their price target on AbbVie from $180.00 to $214.00 and gave the company an outperform rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company lifted their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an overweight rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $198.00.

Get Our Latest Stock Report on AbbVie

AbbVie Trading Down 0.2 %

Shares of NYSE:ABBV opened at $194.31 on Monday. The company has a market cap of $343.13 billion, a PE ratio of 57.66, a price-to-earnings-growth ratio of 2.65 and a beta of 0.63. AbbVie has a 12-month low of $135.85 and a 12-month high of $199.95. The stock has a 50 day moving average of $193.89 and a 200 day moving average of $177.18. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51.

AbbVie (NYSE:ABBVGet Free Report) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share 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 analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. AbbVie’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.91 EPS. As a group, equities research analysts expect that AbbVie will post 10.86 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.55 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.19%. AbbVie’s dividend payout ratio (DPR) is 183.98%.

Insiders Place Their Bets

In other news, Chairman Richard A. Gonzalez sold 282,845 shares of AbbVie stock in a transaction that occurred on 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 approximately $89,792,325. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction on 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 transaction, the chairman now owns 513,099 shares in the company, valued at approximately $89,792,325. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction dated 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 sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at approximately $83,299,645.48. This trade represents a 0.00 % decrease in their ownership of the stock. 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 bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of AbbVie by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after acquiring an additional 9,978,415 shares in the last quarter. Capital International Investors increased its position 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 purchasing an additional 3,110,601 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of AbbVie by 3.3% during the 1st quarter. Capital Research Global Investors now owns 31,295,150 shares of the company’s stock valued at $5,698,847,000 after purchasing an additional 992,496 shares during the last quarter. Legal & General Group Plc boosted its position in shares of AbbVie by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company’s stock worth $2,620,382,000 after purchasing an additional 134,239 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in AbbVie by 12.8% during the 1st quarter. Janus Henderson Group PLC now owns 10,898,246 shares of the company’s stock worth $1,984,490,000 after buying an additional 1,240,434 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

About AbbVie

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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.

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