AbbVie (ABBV) Stock Forecast, Price & News

AbbVie Inc. discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection. It also provides CREON, a pancreatic enzyme therapy for exocrine pancreatic insufficiency; Synthroid used in the treatment of hypothyroidism; Linzess/Constella to treat irritable bowel syndrome with constipation and chronic idiopathic constipation; Lupron for the palliative treatment of advanced prostate cancer, endometriosis and central precocious puberty, and patients with anemia caused by uterine fibroids; and Botox therapeutic. In addition, the company offers ORILISSA, a nonpeptide small molecule gonadotropin-releasing hormone antagonist for women with moderate to severe endometriosis pain; Duopa and Duodopa, a levodopa-carbidopa intestinal gel to treat Parkinson's disease; Lumigan/Ganfort, a bimatoprost ophthalmic solution for the reduction of elevated intraocular pressure (IOP) in patients with open angle glaucoma (OAG) or ocular hypertension; Ubrelvy to treat migraine with or without aura in adults; Alphagan/ Combigan, an alpha-adrenergic receptor agonist for the reduction of IOP in patients with OAG; and Restasis, a calcineurin inhibitor immunosuppressant to increase tear production, as well as other eye care products. AbbVie Inc. has a research collaboration with Dragonfly Therapeutics, Inc. The company was incorporated in 2012 and is headquartered in North Chicago, Illinois.

AbbVie Stock Performance

NYSE:ABBV traded down $0.88 during trading on Friday, hitting $138.04. The company's stock had a trading volume of 5,371,137 shares, compared to its average volume of 6,052,852. AbbVie has a 52 week low of $105.56 and a 52 week high of $175.91. The firm has a market cap of $243.93 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 3.90 and a beta of 0.70. The firm has a 50 day moving average price of $147.52 and a 200 day moving average price of $150.16. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 3.89.

AbbVie (NYSE:ABBV - Get Rating) last released its earnings results on Friday, July 29th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.31 by $0.06. The firm had revenue of $14.58 billion during the quarter, compared to analysts' expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 157.31%. The business's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.11 EPS. Equities research analysts forecast that AbbVie will post 14.05 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be issued a $1.41 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $5.64 annualized dividend and a yield of 4.09%. AbbVie's dividend payout ratio (DPR) is 79.89%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on AbbVie from $122.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, April 12th. UBS Group reduced their price target on AbbVie from $154.00 to $146.00 and set a "neutral" rating for the company in a report on Monday, August 1st. Piper Sandler dropped their price objective on AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Barclays lifted their target price on shares of AbbVie from $150.00 to $174.00 and gave the company an "equal weight" rating in a research note on Tuesday, April 12th. Finally, Wells Fargo & Company increased their price target on shares of AbbVie from $165.00 to $200.00 in a research note on Monday, May 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, AbbVie presently has a consensus rating of "Moderate Buy" and an average target price of $160.50.

Insiders Place Their Bets

In other AbbVie news, Vice Chairman Michael Severino sold 79,801 shares of the business's stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $150.90, for a total value of $12,041,970.90. Following the sale, the insider now owns 152,103 shares of the company's stock, valued at approximately $22,952,342.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other AbbVie news, EVP Henry O. Gosebruch sold 83,960 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the completion of the transaction, the executive vice president now directly owns 16,623 shares in the company, valued at $2,576,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Michael Severino sold 79,801 shares of the business's stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $150.90, for a total transaction of $12,041,970.90. Following the completion of the sale, the insider now owns 152,103 shares in the company, valued at approximately $22,952,342.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 363,761 shares of company stock worth $55,528,771. 0.08% of the stock is currently owned by company insiders.