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.

Analyst Ratings Changes

ABBV has been the subject of a number of research reports. Morgan Stanley reduced their target price on shares of AbbVie from $191.00 to $188.00 and set an "overweight" rating for the company in a report on Monday, August 1st. Barclays reduced their target price on shares of AbbVie to $160.00 in a report on Tuesday. Atlantic Securities reduced their target price on shares of AbbVie from $178.00 to $162.00 and set a "neutral" rating for the company in a report on Monday, August 1st. Piper Sandler reduced their target price on shares of AbbVie from $160.00 to $155.00 in a report on Friday, July 29th. Finally, Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $150.00 price target for the company. in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, AbbVie presently has an average rating of "Moderate Buy" and a consensus target price of $159.63.

AbbVie Stock Up 0.4 %

ABBV Stock traded up $0.52 during midday trading on Friday, reaching $142.60. The company had a trading volume of 5,197,590 shares, compared to its average volume of 7,225,171. AbbVie has a 1 year low of $105.56 and a 1 year high of $175.91. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 4.15. The company has a market capitalization of $252.13 billion, a P/E ratio of 20.20, a PEG ratio of 3.96 and a beta of 0.70. The company has a 50 day moving average of $146.98 and a two-hundred day moving average of $150.28.

AbbVie (NYSE:ABBV - Get Rating) last released its earnings results on Friday, July 29th. The company reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The company had revenue of $14.58 billion during the quarter, compared to the consensus estimate of $14.64 billion. During the same quarter in the prior year, the firm earned $3.11 EPS. The company's revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts expect that AbbVie will post 14.05 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, July 15th will be issued a dividend of $1.41 per share. The ex-dividend date is Thursday, July 14th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.96%. AbbVie's dividend payout ratio is currently 79.89%.

Insider Activity

In related news, Vice Chairman Michael Severino sold 79,801 shares of the firm'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 transaction, the insider now directly owns 152,103 shares in the company, valued at approximately $22,952,342.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Henry O. Gosebruch sold 83,960 shares of the firm's stock in a transaction on Monday, May 16th. The shares were sold at an average price of $155.00, for a total value of $13,013,800.00. Following the transaction, the executive vice president now directly owns 16,623 shares in the company, valued at approximately $2,576,565. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Michael Severino sold 79,801 shares of the firm'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 transaction, the insider now owns 152,103 shares in the company, valued at $22,952,342.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 263,761 shares of company stock worth $40,500,771. 0.08% of the stock is owned by corporate insiders.