AbbVie Inc. (NYSE:ABBV – Get Free Report) shot up 0.1% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $210.00 to $215.00. Truist Financial currently has a buy rating on the stock. AbbVie traded as high as $195.24 and last traded at $194.64. 454,333 shares traded hands during trading, a decline of 91% from the average session volume of 5,291,692 shares. The stock had previously closed at $194.35.
A number of other equities research analysts also recently commented on ABBV. Piper Sandler boosted their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. William Blair upgraded AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. UBS Group upped their price target on shares of AbbVie from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Barclays increased their price target on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.00.
Check Out Our Latest Report on ABBV
Insider Activity
Hedge Funds Weigh In On AbbVie
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fairway Wealth LLC purchased a new position in shares of AbbVie during the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie during the 2nd quarter worth approximately $27,000. IFS Advisors LLC acquired a new position in shares of AbbVie in the first quarter worth $36,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the third quarter worth $39,000. Finally, Redmont Wealth Advisors LLC acquired a new position in AbbVie during the 1st quarter worth $37,000. Institutional investors and hedge funds own 70.23% of the company’s stock.
AbbVie Trading Down 0.1 %
The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. The company has a market cap of $343.04 billion, a PE ratio of 64.74, a P/E/G ratio of 2.66 and a beta of 0.63. The company has a fifty day simple moving average of $193.98 and a two-hundred day simple moving average of $177.30.
AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the prior year, the firm earned $2.91 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post 10.85 EPS for the current year.
AbbVie Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.55 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.19%. AbbVie’s payout ratio is currently 206.67%.
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.
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