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

Several analysts have recently commented on ABBV shares. The Goldman Sachs Group upped their price objective on shares of AbbVie from $122.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, April 12th. Daiwa Capital Markets downgraded AbbVie from an "outperform" rating to a "neutral" rating and set a $150.00 price target on the stock. in a research report on Friday, May 6th. SVB Leerink initiated coverage on AbbVie in a research note on Monday, May 23rd. They set an "underperform" rating and a $140.00 price objective for the company. Atlantic Securities lowered their target price on AbbVie from $178.00 to $162.00 and set a "neutral" rating on the stock in a research note on Monday, August 1st. Finally, Piper Sandler reduced their price target on AbbVie from $160.00 to $155.00 in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $159.63.

AbbVie Stock Performance

ABBV opened at $140.25 on Wednesday. The firm's fifty day simple moving average is $147.18 and its two-hundred day simple moving average is $150.27. AbbVie has a 52-week low of $105.56 and a 52-week high of $175.91. The company has a market cap of $247.98 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 3.88 and a beta of 0.70. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 4.15.

AbbVie (NYSE:ABBV - Get Rating) last released its quarterly earnings results on Friday, July 29th. The company reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.42 by $0.09. AbbVie had a net margin of 22.03% and a return on equity of 158.41%. The firm 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 for the quarter was up 4.5% on a year-over-year basis. Equities analysts anticipate 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. Investors of record on Friday, July 15th will be given a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, July 14th. AbbVie's payout ratio is 79.89%.

Insider Activity at AbbVie

In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $154.45, for a total value of $15,445,000.00. Following the completion of the transaction, the insider now owns 152,103 shares of the company's stock, valued at approximately $23,492,308.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the company's stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $154.45, for a total transaction of $15,445,000.00. Following the sale, the insider now owns 152,103 shares in the company, valued at approximately $23,492,308.35. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 16,623 shares of the company's stock, valued at approximately $2,576,565. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,761 shares of company stock valued at $40,500,771. 0.08% of the stock is owned by insiders.