Analysts Set AbbVie Inc. (NYSE:ABBV) Price Target at $205.70

AbbVie Inc. (NYSE:ABBV) has received a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $205.70.

ABBV has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. JPMorgan Chase & Co. dropped their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. UBS Group increased their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Guggenheim boosted their target price on shares of AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Hedge funds have recently made changes to their positions in the stock. Vicus Capital increased its position in shares of AbbVie by 32.4% during the second quarter. Vicus Capital now owns 3,015 shares of the company’s stock worth $517,000 after buying an additional 738 shares during the period. Joule Financial LLC raised its position in shares of AbbVie by 7.6% in the 2nd quarter. Joule Financial LLC now owns 1,831 shares of the company’s stock worth $314,000 after acquiring an additional 129 shares in the last quarter. 1620 Investment Advisors Inc. lifted its stake in shares of AbbVie by 10.7% in the 2nd quarter. 1620 Investment Advisors Inc. now owns 8,355 shares of the company’s stock valued at $1,433,000 after purchasing an additional 809 shares during the period. PSI Advisors LLC boosted its position in shares of AbbVie by 2.0% during the 2nd quarter. PSI Advisors LLC now owns 3,903 shares of the company’s stock valued at $669,000 after purchasing an additional 77 shares in the last quarter. Finally, GYL Financial Synergies LLC increased its holdings in AbbVie by 1.0% in the second quarter. GYL Financial Synergies LLC now owns 37,101 shares of the company’s stock worth $6,364,000 after purchasing an additional 359 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Performance

Shares of NYSE ABBV opened at $175.58 on Wednesday. AbbVie has a one year low of $151.29 and a one year high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market cap of $310.27 billion, a price-to-earnings ratio of 60.97, a P/E/G ratio of 1.92 and a beta of 0.58. The stock’s fifty day moving average price is $182.56 and its two-hundred day moving average price is $183.49.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the firm earned $2.95 earnings per share. On average, equities analysts forecast that AbbVie will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.74%. AbbVie’s dividend payout ratio (DPR) is currently 227.78%.

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.