AbbVie (ABBV) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of AbbVie (NYSE: ABBV) in the last few weeks:

  • 4/25/2022 – AbbVie had its price target raised by analysts at BMO Capital Markets from $161.00 to $174.00. They now have an “outperform” rating on the stock.
  • 4/12/2022 – AbbVie had its price target raised by analysts at The Goldman Sachs Group, Inc. from $122.00 to $140.00. They now have a “neutral” rating on the stock.
  • 4/12/2022 – AbbVie had its price target raised by analysts at Barclays PLC from $150.00 to $174.00. They now have an “equal weight” rating on the stock.
  • 4/8/2022 – AbbVie was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
  • 4/6/2022 – AbbVie had its price target raised by analysts at Morgan Stanley from $142.00 to $192.00. They now have an “overweight” rating on the stock.
  • 3/31/2022 – AbbVie is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
  • 3/17/2022 – AbbVie was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
  • 3/1/2022 – AbbVie had its price target raised by analysts at Citigroup Inc. from $155.00 to $170.00.
  • 2/28/2022 – AbbVie was downgraded by analysts at UBS Group AG from a “buy” rating to a “neutral” rating. They now have a $147.00 price target on the stock, up previously from $129.00.

Shares of ABBV stock traded down $2.22 during trading on Monday, hitting $156.30. 325,652 shares of the stock traded hands, compared to its average volume of 7,847,505. The firm has a market capitalization of $276.07 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 4.42 and a beta of 0.81. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.79 and a quick ratio of 0.70. The firm’s fifty day moving average price is $156.07 and its 200-day moving average price is $136.07. AbbVie Inc. has a 52-week low of $105.56 and a 52-week high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last released its quarterly earnings results on Wednesday, February 2nd. The company reported $3.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.29 by $0.02. The firm had revenue of $14.89 billion for the quarter, compared to analyst estimates of $14.96 billion. AbbVie had a net margin of 20.54% and a return on equity of 164.05%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.92 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 14.13 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 16th. Shareholders of record on Friday, April 15th will be given a $1.41 dividend. This represents a $5.64 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, April 13th. AbbVie’s payout ratio is 87.44%.

In other AbbVie news, SVP Carrie C. Strom sold 2,396 shares of the business’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $141.17, for a total value of $338,243.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 27,690 shares of the business’s stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $159.20, for a total value of $4,408,248.00. The disclosure for this sale can be found here. In the last three months, insiders sold 106,819 shares of company stock worth $16,155,094. 0.08% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Marino Stram & Associates LLC increased its position in shares of AbbVie by 3.5% during the fourth quarter. Marino Stram & Associates LLC now owns 12,718 shares of the company’s stock worth $1,722,000 after acquiring an additional 431 shares during the period. PSI Advisors LLC raised its stake in AbbVie by 9.0% in the third quarter. PSI Advisors LLC now owns 26,001 shares of the company’s stock valued at $2,805,000 after buying an additional 2,140 shares in the last quarter. International Assets Investment Management LLC raised its stake in AbbVie by 237.7% in the fourth quarter. International Assets Investment Management LLC now owns 185,150 shares of the company’s stock valued at $1,696,000 after buying an additional 130,327 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in AbbVie by 49.3% during the 3rd quarter. Clark Capital Management Group Inc. now owns 364,231 shares of the company’s stock worth $39,290,000 after buying an additional 120,309 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $223,000. 65.62% of the stock is currently owned by institutional investors and hedge funds.

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.

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