AbbVie (ABBV) – Investment Analysts’ Weekly Ratings Updates

AbbVie (NYSE: ABBV) recently received a number of ratings updates from brokerages and research firms:

  • 11/17/2022 – AbbVie is now covered by analysts at Credit Suisse Group AG. They set an “outperform” rating on the stock.
  • 11/8/2022 – AbbVie was downgraded by analysts at Societe Generale from a “buy” rating to a “hold” rating. They now have a $140.00 price target on the stock, down previously from $155.00.
  • 10/31/2022 – AbbVie had its price target lowered by analysts at Morgan Stanley from $185.00 to $178.00. They now have an “overweight” rating on the stock.
  • 10/31/2022 – AbbVie had its price target lowered by analysts at BMO Capital Markets from $170.00 to $169.00. They now have an “outperform” rating on the stock.
  • 10/31/2022 – AbbVie had its price target lowered by analysts at Atlantic Securities from $162.00 to $157.00. They now have a “neutral” rating on the stock.
  • 10/31/2022 – AbbVie had its price target lowered by analysts at Barclays PLC from $160.00 to $155.00. They now have an “equal weight” rating on the stock.
  • 10/12/2022 – AbbVie is now covered by analysts at StockNews.com. They set a “strong-buy” rating on the stock.
  • 10/11/2022 – AbbVie had its price target lowered by analysts at Morgan Stanley from $188.00 to $185.00. They now have an “overweight” rating on the stock.
  • 9/30/2022 – AbbVie had its price target lowered by analysts at SVB Leerink LLC from $140.00 to $135.00. They now have an “underperform” rating on the stock.

AbbVie Stock Performance

Shares of ABBV opened at $152.16 on Friday. The company has a 50-day moving average of $144.58 and a two-hundred day moving average of $145.69. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 3.77. The stock has a market cap of $269.09 billion, a P/E ratio of 20.32, a PEG ratio of 4.31 and a beta of 0.69. AbbVie Inc. has a 12-month low of $115.01 and a 12-month high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last posted its quarterly earnings data on Friday, October 28th. The company reported $3.66 earnings per share for the quarter, beating analysts’ consensus estimates of $3.57 by $0.09. The business had revenue of $14.81 billion during the quarter, compared to analyst estimates of $14.95 billion. AbbVie had a net margin of 23.19% and a return on equity of 155.88%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.33 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 14.01 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.89%. This is an increase from AbbVie’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Thursday, January 12th. AbbVie’s payout ratio is presently 75.30%.

Institutional Investors Weigh In On AbbVie

A number of institutional investors have recently bought and sold shares of the stock. ICW Investment Advisors LLC grew its stake in AbbVie by 0.3% during the first quarter. ICW Investment Advisors LLC now owns 23,418 shares of the company’s stock worth $3,796,000 after buying an additional 65 shares during the period. Wealth Architects LLC grew its stake in AbbVie by 1.5% during the first quarter. Wealth Architects LLC now owns 4,511 shares of the company’s stock worth $731,000 after buying an additional 67 shares during the period. Nicolet Advisory Services LLC grew its stake in AbbVie by 1.4% during the first quarter. Nicolet Advisory Services LLC now owns 5,111 shares of the company’s stock worth $894,000 after buying an additional 70 shares during the period. JNBA Financial Advisors grew its stake in AbbVie by 0.7% during the second quarter. JNBA Financial Advisors now owns 10,204 shares of the company’s stock worth $1,563,000 after buying an additional 71 shares during the period. Finally, Capasso Planning Partners LLC grew its stake in AbbVie by 2.2% during the second quarter. Capasso Planning Partners LLC now owns 3,238 shares of the company’s stock worth $496,000 after buying an additional 71 shares during the period. 68.25% of the stock is currently owned by hedge funds and other institutional investors.

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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