AbbVie Inc (NYSE:ABBV) Receives $92.18 Consensus PT from Brokerages

AbbVie Inc (NYSE:ABBV) has received a consensus rating of “Hold” from the nineteen analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $92.18.

Several analysts have recently issued reports on ABBV shares. ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, March 18th. Societe Generale downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Monday. Royal Bank of Canada reissued a “hold” rating and issued a $86.00 price target on shares of AbbVie in a report on Thursday, January 23rd. Barclays initiated coverage on shares of AbbVie in a report on Thursday, February 27th. They issued an “equal weight” rating and a $97.00 price target for the company. Finally, Piper Sandler increased their price target on shares of AbbVie from to and gave the company an “overweight” rating in a report on Friday, February 7th.

In other AbbVie news, VP Brian L. Durkin acquired 3,750 shares of AbbVie stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $68.82 per share, with a total value of $258,075.00. Following the acquisition, the vice president now owns 15,294 shares of the company’s stock, valued at $1,052,533.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian L. Durkin acquired 2,200 shares of AbbVie stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $68.18 per share, with a total value of $149,996.00. Following the completion of the acquisition, the vice president now directly owns 15,294 shares in the company, valued at approximately $1,042,744.92. The disclosure for this purchase can be found here. Insiders have bought a total of 8,825 shares of company stock valued at $671,852 over the last ninety days. 0.08% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth approximately $1,352,805,000. Renaissance Technologies LLC increased its position in AbbVie by 61.5% in the 4th quarter. Renaissance Technologies LLC now owns 11,796,744 shares of the company’s stock valued at $1,044,484,000 after acquiring an additional 4,490,046 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of AbbVie by 580.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,055,609 shares of the company’s stock worth $359,006,000 after buying an additional 3,459,683 shares during the period. FMR LLC grew its position in shares of AbbVie by 7.8% during the 4th quarter. FMR LLC now owns 40,238,885 shares of the company’s stock worth $3,562,751,000 after buying an additional 2,928,045 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of AbbVie by 24.8% during the 4th quarter. Nuveen Asset Management LLC now owns 13,041,659 shares of the company’s stock worth $1,154,709,000 after buying an additional 2,592,492 shares during the period. 72.20% of the stock is owned by hedge funds and other institutional investors.

ABBV traded up $0.42 during midday trading on Friday, hitting $67.91. The company had a trading volume of 20,010,144 shares, compared to its average volume of 12,149,046. The company has a market capitalization of $95.41 billion, a PE ratio of 12.86, a P/E/G ratio of 1.36 and a beta of 0.83. AbbVie has a twelve month low of $62.55 and a twelve month high of $97.86. The firm’s 50-day simple moving average is $86.39 and its 200-day simple moving average is $83.12.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, February 7th. The company reported $2.21 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.02. The firm had revenue of $8.70 billion during the quarter, compared to analysts’ expectations of $8.68 billion. AbbVie had a net margin of 23.69% and a negative return on equity of 162.54%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 EPS. On average, research analysts anticipate that AbbVie will post 10.52 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date is Tuesday, April 14th. AbbVie’s payout ratio is 52.80%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Analyst Recommendations for AbbVie (NYSE:ABBV)

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