AbbVie (NYSE:ABBV) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of AbbVie (NYSE:ABBVFree Report) in a research report released on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a $200.00 price target on the stock. Cantor Fitzgerald also issued estimates for AbbVie’s FY2024 earnings at $10.61 EPS.

Several other analysts also recently commented on ABBV. BMO Capital Markets cut their target price on AbbVie from $195.00 to $180.00 and set an outperform rating on the stock in a research note on Monday, April 29th. Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the stock a buy rating in a research note on Friday, March 22nd. Piper Sandler restated an overweight rating and issued a $190.00 price target on shares of AbbVie in a research note on Tuesday, July 2nd. Barclays dropped their price target on AbbVie from $195.00 to $187.00 and set an overweight rating on the stock in a research note on Monday, April 29th. Finally, HSBC upgraded AbbVie from a hold rating to a buy rating and set a $185.00 price target on the stock in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, AbbVie currently has a consensus rating of Moderate Buy and an average price target of $181.07.

View Our Latest Report on AbbVie

AbbVie Stock Performance

Shares of ABBV opened at $168.11 on Tuesday. The business’s fifty day simple moving average is $164.79 and its two-hundred day simple moving average is $168.27. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. AbbVie has a 12 month low of $132.70 and a 12 month high of $182.89. The company has a market cap of $296.86 billion, a price-to-earnings ratio of 49.88, a P/E/G ratio of 2.14 and a beta of 0.64.

AbbVie (NYSE:ABBVGet Free Report) last issued its earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the business posted $2.46 EPS. The company’s revenue was up .7% compared to the same quarter last year. Research analysts anticipate that AbbVie will post 10.71 earnings per share for the current fiscal year.

AbbVie Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a yield of 3.69%. AbbVie’s dividend payout ratio is presently 183.98%.

Institutional Investors Weigh In On AbbVie

Institutional investors and hedge funds have recently bought and sold shares of the business. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie during the fourth quarter valued at about $26,000. Able Wealth Management LLC bought a new stake in shares of AbbVie in the fourth quarter worth about $33,000. IFS Advisors LLC bought a new stake in shares of AbbVie in the first quarter worth about $36,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of AbbVie in the fourth quarter worth about $37,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of AbbVie in the first quarter worth about $37,000. 70.23% of the stock is owned by institutional investors.

About AbbVie

(Get Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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.

Further Reading

Analyst Recommendations for AbbVie (NYSE:ABBV)

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