AbbVie Inc. (NYSE:ABBV - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twenty-four brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $275.70.
A number of brokerages recently issued reports on ABBV. Piper Sandler restated an "overweight" rating and set a $298.00 target price on shares of AbbVie in a research report on Tuesday, June 23rd. Evercore set a $235.00 price target on AbbVie in a report on Friday, May 15th. Erste Group Bank raised AbbVie from a "hold" rating to a "buy" rating in a research note on Wednesday, August 5th. Weiss Ratings raised AbbVie from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 4th. Finally, Bank of America upped their target price on AbbVie from $234.00 to $276.00 and gave the company a "buy" rating in a research note on Friday, July 10th.
Check Out Our Latest Analysis on AbbVie
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Litman Gregory Wealth Management LLC purchased a new position in AbbVie during the fourth quarter worth approximately $28,000. Imprint Wealth LLC increased its holdings in shares of AbbVie by 56.2% during the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company's stock worth $29,000 after buying an additional 45 shares during the last quarter. Legacy Wealth Managment LLC ID increased its holdings in shares of AbbVie by 115.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company's stock worth $31,000 after buying an additional 73 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $31,000. Finally, WestEnd Advisors LLC boosted its holdings in AbbVie by 160.4% in the fourth quarter. WestEnd Advisors LLC now owns 138 shares of the company's stock valued at $32,000 after acquiring an additional 85 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
AbbVie Trading Down 0.1%
AbbVie stock opened at $245.82 on Monday. The stock has a 50-day moving average price of $241.96 and a 200 day moving average price of $225.04. AbbVie has a 52 week low of $190.75 and a 52 week high of $267.47. The stock has a market cap of $434.31 billion, a PE ratio of 69.44, a P/E/G ratio of 0.82 and a beta of 0.30.
AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, July 31st. The company reported $3.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.61 by $0.04. The company had revenue of $16.99 billion for the quarter, compared to analyst estimates of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The firm's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.97 EPS. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, equities analysts predict that AbbVie will post 14.07 EPS for the current year.
AbbVie Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 annualized dividend and a yield of 2.8%. AbbVie's payout ratio is 195.48%.
About AbbVie
(
Get Free Report)
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.
Further Reading
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