AbbVie Inc. (NYSE:ABBV) Given Average Rating of "Moderate Buy" by Analysts

Shares of AbbVie Inc. (NYSE:ABBV - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-four ratings firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $205.70.

Several equities research analysts recently commented on the company. UBS Group lifted their price objective on AbbVie from $195.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Piper Sandler boosted their price objective on shares of AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a report on Tuesday. Leerink Partners upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 target price on the stock in a report on Friday, November 22nd. Morgan Stanley cut their target price on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating for the company in a research report on Tuesday, November 12th. Finally, TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, October 7th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of AbbVie in the third quarter worth about $999,000. Saturna Capital Corp raised its holdings in shares of AbbVie by 486.1% during the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company's stock worth $133,531,000 after acquiring an additional 560,808 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of AbbVie by 23.5% during the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company's stock worth $11,169,000 after acquiring an additional 10,768 shares in the last quarter. Schrum Private Wealth Management LLC boosted its position in shares of AbbVie by 57.5% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 16,620 shares of the company's stock valued at $3,282,000 after acquiring an additional 6,065 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of AbbVie by 8.3% in the third quarter. Venturi Wealth Management LLC now owns 77,864 shares of the company's stock valued at $15,377,000 after purchasing an additional 5,993 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

AbbVie Stock Down 1.3 %

NYSE:ABBV traded down $2.36 on Wednesday, reaching $173.02. 5,388,696 shares of the stock traded hands, compared to its average volume of 5,552,048. The company's fifty day simple moving average is $183.83 and its 200 day simple moving average is $183.39. The company has a market capitalization of $305.75 billion, a price-to-earnings ratio of 60.08, a PEG ratio of 1.92 and a beta of 0.58. AbbVie has a 12 month low of $151.29 and a 12 month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.95 earnings per share. Equities analysts predict that AbbVie will post 10.96 EPS for the current fiscal 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 paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie's previous quarterly dividend of $1.55. AbbVie's dividend payout ratio (DPR) is 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.