AbbVie (NYSE:ABBV) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of AbbVie (NYSE:ABBV - Free Report) from a buy rating to a strong-buy rating in a report published on Monday.

ABBV has been the subject of a number of other research reports. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Raymond James reaffirmed an "outperform" rating and set a $220.00 target price (up previously from $218.00) on shares of AbbVie in a report on Monday, February 3rd. Citigroup boosted their target price on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price objective on the stock. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $194.00 price target on shares of AbbVie in a research note on Tuesday, April 8th. Six analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $211.41.

AbbVie Stock Down 0.9 %

Shares of AbbVie stock traded down $1.71 on Monday, hitting $193.40. The company had a trading volume of 5,816,991 shares, compared to its average volume of 6,075,371. The stock has a market capitalization of $342.11 billion, a price-to-earnings ratio of 80.58, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. AbbVie has a 1 year low of $153.58 and a 1 year high of $218.66. The stock has a 50 day moving average of $196.46 and a 200-day moving average of $187.22.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion for the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the previous year, the firm earned $2.31 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, sell-side analysts forecast that AbbVie will post 12.31 earnings per share for the current year.

AbbVie Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 15th will be issued a $1.64 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.39%. AbbVie's dividend payout ratio (DPR) is presently 279.15%.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,471 shares of company stock valued at $23,426,451. Insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On AbbVie

Several hedge funds have recently added to or reduced their stakes in the company. Abound Financial LLC purchased a new stake in AbbVie in the first quarter worth $30,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the 4th quarter valued at about $29,000. EnRich Financial Partners LLC boosted its position in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares during the period. Promus Capital LLC bought a new position in AbbVie in the 4th quarter worth about $30,000. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of AbbVie during the fourth quarter worth approximately $31,000. 70.23% of the stock is currently owned by institutional investors.

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.