AbbVie (NYSE:ABBV) PT Raised to $140.00

AbbVie (NYSE:ABBV – Get Rating) had its target price increased by The Goldman Sachs Group from $122.00 to $140.00 in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm currently has a neutral rating on the stock.

ABBV has been the subject of a number of other research reports. BMO Capital Markets upped their price target on AbbVie from $153.00 to $154.00 and gave the stock an outperform rating in a report on Thursday, February 3rd. JPMorgan Chase & Co. upped their price target on AbbVie from $165.00 to $180.00 in a report on Thursday, February 3rd. Morgan Stanley upped their price target on AbbVie from $142.00 to $192.00 and gave the stock an overweight rating in a report on Wednesday, April 6th. Bank of America upped their price target on AbbVie from $135.00 to $138.00 and gave the stock a neutral rating in a report on Thursday, February 3rd. Finally, Cowen upped their price target on AbbVie from $130.00 to $150.00 in a report on Tuesday, January 18th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AbbVie has a consensus rating of Buy and a consensus target price of $156.40.

Shares of ABBV opened at $167.31 on Tuesday. AbbVie has a 52 week low of $105.56 and a 52 week high of $175.91. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 4.16. The company has a market capitalization of $295.52 billion, a price-to-earnings ratio of 25.94, a PEG ratio of 4.87 and a beta of 0.81. The stock’s 50-day moving average price is $153.44 and its 200-day moving average price is $133.08.

AbbVie (NYSE:ABBV – Get Rating) last issued its earnings results on Wednesday, February 2nd. The company reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.29 by $0.02. The firm had revenue of $14.89 billion for the quarter, compared to the consensus estimate of $14.96 billion. AbbVie had a return on equity of 164.05% and a net margin of 20.54%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.92 earnings per share. As a group, equities analysts anticipate that AbbVie will post 14.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 16th. Investors of record on Friday, April 15th will be issued a $1.41 dividend. The ex-dividend date is Wednesday, April 13th. This represents a $5.64 annualized dividend and a dividend yield of 3.37%. AbbVie’s dividend payout ratio is presently 87.44%.

In related news, Vice Chairman Robert A. Michael sold 43,105 shares of the stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $148.25, for a total value of $6,390,316.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Carrie C. Strom sold 2,396 shares of the 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 106,819 shares of company stock valued at $16,155,094. Insiders own 0.08% of the company’s stock.

A number of institutional investors have recently modified their holdings of ABBV. Norges Bank purchased a new position in AbbVie in the fourth quarter worth approximately $2,433,269,000. BlackRock Inc. boosted its position in shares of AbbVie by 3.5% during the third quarter. BlackRock Inc. now owns 126,839,439 shares of the company’s stock worth $13,682,169,000 after buying an additional 4,247,445 shares during the period. Nordea Investment Management AB boosted its position in shares of AbbVie by 98.9% during the third quarter. Nordea Investment Management AB now owns 7,308,658 shares of the company’s stock worth $803,076,000 after buying an additional 3,634,888 shares during the period. State Street Corp boosted its position in shares of AbbVie by 3.4% during the fourth quarter. State Street Corp now owns 79,357,705 shares of the company’s stock worth $10,745,033,000 after buying an additional 2,597,076 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of AbbVie during the fourth quarter worth $272,868,000. Institutional investors own 65.62% of the company’s stock.

About AbbVie (Get Rating)

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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