AbbVie (NYSE:ABBV) Given New $180.00 Price Target at BMO Capital Markets

AbbVie (NYSE:ABBV) had its target price cut by BMO Capital Markets from $195.00 to $180.00 in a research note released on Monday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Raymond James raised their price objective on shares of AbbVie from $181.00 to $189.00 and gave the company an outperform rating in a research report on Monday, February 5th. Truist Financial lifted their price target on AbbVie from $180.00 to $195.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Barclays raised their target price on AbbVie from $185.00 to $195.00 and gave the company an overweight rating in a report on Wednesday, March 27th. Guggenheim upped their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a buy rating in a research note on Friday, March 22nd. Finally, William Blair upgraded shares of AbbVie from a market perform rating to an outperform rating in a research note on Monday, January 29th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $174.31.

AbbVie Trading Up 1.2 %

Shares of ABBV stock opened at $161.52 on Monday. The company has a market capitalization of $286.00 billion, a P/E ratio of 47.93, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.76 and a debt-to-equity ratio of 5.02. The business’s 50 day moving average is $174.27 and its two-hundred day moving average is $161.00. AbbVie has a twelve month low of $130.96 and a twelve month high of $182.89.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. The firm had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. AbbVie’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. Equities analysts forecast that AbbVie will post 11.19 EPS for the current year.

AbbVie Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s payout ratio is currently 183.98%.

Insider Buying and Selling

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $173.71, for a total value of $9,184,047.70. Following the sale, the executive vice president now directly owns 243,944 shares of the company’s stock, valued at approximately $42,375,512.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lokken Investment Group LLC lifted its position in AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock worth $258,000 after acquiring an additional 58 shares in the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of AbbVie by 0.6% during the first quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock worth $1,706,000 after purchasing an additional 59 shares in the last quarter. Aspen Wealth Strategies LLC boosted its stake in shares of AbbVie by 0.5% in the fourth quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after purchasing an additional 61 shares during the period. Marks Group Wealth Management Inc increased its stake in AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after buying an additional 63 shares during the period. Finally, Spinnaker Investment Group LLC lifted its holdings in AbbVie by 1.6% in the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock worth $741,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.