AbbVie Inc. (NYSE:ABBV) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• AbbVie has a consensus analyst rating of “Moderate Buy” from 25 brokerages, with 17 buy ratings, 2 strong buys, and 6 holds. The average 12-month price target is about $267.67.
• The company recently reported stronger-than-expected quarterly results, earning $2.65 per share versus estimates of $2.59 and generating $15 billion in revenue, above forecasts. Revenue also rose 12.4% from a year earlier.
• AbbVie declared a quarterly dividend of $1.73 per share, equal to an annualized payout of $6.92 and a 2.8% yield. The stock was trading near $244.21, below the average analyst target.

AbbVie Inc. (NYSE:ABBV - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-five ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $267.6667.

ABBV has been the topic of a number of analyst reports. Piper Sandler restated an "overweight" rating and issued a $298.00 target price on shares of AbbVie in a report on Tuesday, June 23rd. DZ Bank upgraded AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 30th. Guggenheim boosted their price objective on AbbVie from $249.00 to $261.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Citigroup increased their price objective on AbbVie from $230.00 to $260.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, UBS Group raised their target price on AbbVie from $230.00 to $260.00 and gave the company a "neutral" rating in a report on Monday.

Hedge Funds Weigh In On AbbVie

Hedge funds have recently bought and sold shares of the company. Willner & Heller LLC lifted its holdings in AbbVie by 0.7% during the 2nd quarter. Willner & Heller LLC now owns 5,852 shares of the company's stock worth $1,472,000 after buying an additional 43 shares during the period. Bank of Jackson Hole Trust grew its position in shares of AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company's stock valued at $1,648,000 after buying an additional 44 shares during the last quarter. Eclectic Associates Inc. ADV increased its stake in shares of AbbVie by 0.8% in the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company's stock valued at $1,337,000 after buying an additional 45 shares during the period. Imprint Wealth LLC increased its stake in shares of AbbVie by 56.2% in the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company's stock valued at $29,000 after buying an additional 45 shares during the period. Finally, Hardin Capital Partners LLC raised its position in shares of AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company's stock worth $759,000 after acquiring an additional 46 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Trading Down 0.2%

Shares of ABBV stock opened at $244.21 on Thursday. The firm has a market capitalization of $431.47 billion, a PE ratio of 120.30, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The firm has a fifty day simple moving average of $227.70 and a two-hundred day simple moving average of $221.54. AbbVie has a 12 month low of $184.63 and a 12 month high of $261.64.

AbbVie (NYSE:ABBV - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.59 by $0.06. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.72 billion. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the firm earned $2.46 earnings per share. On average, equities analysts predict that AbbVie will post 14.22 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a $1.73 dividend. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, July 15th. AbbVie's dividend payout ratio is presently 340.89%.

Key Headlines Impacting AbbVie

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s long-term safety and efficacy extension data for Bimatoprost SR could strengthen the case for its glaucoma pipeline if results continue to show durable safety and benefit. AbbVie’s Bimatoprost SR Extension Data: Why Long-Term Glaucoma Safety Matters for Investors
• Positive Sentiment: Analyst commentary highlighted confidence in AbbVie’s ability to replace Humira revenue, with Skyrizi and Rinvoq helping ease concerns about the company’s long-term earnings outlook. Should You Buy, Sell or Hold ABBV Stock After Its 9% YTD Rise?
• Positive Sentiment: AbbVie has also been described as a trending stock, suggesting elevated investor attention that can reinforce momentum in the shares. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Separate technical coverage pointed to a bullish “golden cross” setup, which may be encouraging traders looking for continued upside momentum in AbbVie. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: AbbVie was the target of unusually heavy call-option buying, which shows speculation and near-term trading interest but does not by itself confirm fundamental strength.
• Neutral Sentiment: Some valuation-focused commentary said the stock may be fully priced after its multi-year run, which could temper enthusiasm even as the growth story remains intact. AbbVie (ABBV) Stock Looks Fully Priced After A 152% Run
• Negative Sentiment: Reports that AbbVie has extended a slide for multiple sessions suggest some traders have been taking profits or reacting to valuation concerns in the near term. AbbVie extends slide to a seventh straight session

About AbbVie

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie's product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women's health.

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