Free Trial

AbbVie (NYSE:ABBV) Now Covered by Analysts at Piper Sandler

AbbVie logo with Medical background

Key Points

  • Piper Sandler has reaffirmed an "overweight" rating for AbbVie (NYSE: ABBV) with a price target of $231.00, indicating a potential upside of 16.40% from its previous close.
  • Analysts have varied opinions on AbbVie, with six ratings as hold, eighteen as buy, and four as strong buy, leading to an average rating of "Moderate Buy" and a consensus price target of $214.95.
  • In its latest earnings report, AbbVie posted $2.97 EPS, missing the consensus estimate, while revenue reached $15.42 billion, exceeding expectations.
  • Looking to export and analyze AbbVie data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Piper Sandler assumed coverage on shares of AbbVie (NYSE:ABBV - Free Report) in a research report sent to investors on Tuesday, MarketBeat reports. The brokerage issued an overweight rating and a $231.00 target price on the stock.

Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. Raymond James Financial increased their price target on shares of AbbVie from $227.00 to $236.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Wall Street Zen lowered shares of AbbVie from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Guggenheim increased their price objective on AbbVie from $216.00 to $227.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Daiwa America raised AbbVie from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Six equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $214.95.

Read Our Latest Stock Analysis on ABBV

AbbVie Stock Performance

NYSE:ABBV traded up $3.31 during midday trading on Tuesday, hitting $204.78. The company's stock had a trading volume of 4,634,275 shares, compared to its average volume of 6,725,322. AbbVie has a fifty-two week low of $163.81 and a fifty-two week high of $218.66. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. The firm has a market cap of $361.75 billion, a P/E ratio of 97.51, a P/E/G ratio of 1.28 and a beta of 0.50. The firm's 50 day moving average is $190.39 and its 200-day moving average is $191.67.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $2.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.24 by ($0.27). AbbVie had a return on equity of 699.66% and a net margin of 6.45%. The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $14.93 billion. During the same period last year, the company posted $2.65 earnings per share. The business's quarterly revenue was up 6.6% on a year-over-year basis. Equities analysts anticipate that AbbVie will post 12.31 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, July 15th will be issued a $1.64 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.56 annualized dividend and a yield of 3.2%. AbbVie's dividend payout ratio is 312.38%.

Insiders Place Their Bets

In other AbbVie news, EVP Nicholas Donoghoe sold 13,295 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $198.51, for a total value of $2,639,190.45. Following the transaction, the executive vice president directly owned 58,247 shares in the company, valued at approximately $11,562,611.97. This represents a 18.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Azita Saleki-Gerhardt sold 42,370 shares of AbbVie stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares of the company's stock, valued at approximately $35,178,278.64. This trade represents a 19.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company's stock.

Institutional Trading of AbbVie

A number of hedge funds have recently bought and sold shares of the company. Marshall & Sullivan Inc. WA acquired a new stake in shares of AbbVie in the second quarter valued at about $25,000. TD Capital Management LLC grew its position in AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after acquiring an additional 58 shares in the last quarter. Spurstone Advisory Services LLC purchased a new stake in shares of AbbVie during the second quarter valued at approximately $28,000. Abound Financial LLC acquired a new position in shares of AbbVie during the first quarter worth $30,000. Finally, Siemens Fonds Invest GmbH boosted its stake in shares of AbbVie by 197.6% in the fourth quarter. Siemens Fonds Invest GmbH now owns 179,440 shares of the company's stock valued at $32,000 after purchasing an additional 119,141 shares during the period. Institutional investors and hedge funds own 70.23% of the company's stock.

AbbVie Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for AbbVie (NYSE:ABBV)

Should You Invest $1,000 in AbbVie Right Now?

Before you consider AbbVie, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and AbbVie wasn't on the list.

While AbbVie currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Elon Musk's Next Move Cover

Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

September Slowdown: 3 Stocks to Buy When the Pullback Comes
3 Overlooked Stocks Riding the AI Data Center Boom
3 Growth Stock Winners to Watch And 3 to Avoid

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines