AbbVie (NYSE:ABBV) Price Target Raised to $260.00 at JPMorgan Chase & Co.

AbbVie (NYSE:ABBV) had its price target raised by JPMorgan Chase & Co. from $250.00 to $260.00 in a report issued on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on ABBV. Evercore ISI lifted their target price on AbbVie from $207.00 to $222.00 and gave the company an “outperform” rating in a research note on Monday, September 22nd. UBS Group set a $251.00 target price on AbbVie in a research note on Friday, October 3rd. Wall Street Zen raised AbbVie from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Cantor Fitzgerald set a $250.00 price target on AbbVie and gave the company an “overweight” rating in a report on Thursday, October 9th. Finally, Daiwa America raised AbbVie from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $237.85.

AbbVie Price Performance

Shares of NYSE ABBV opened at $212.04 on Monday. The stock’s 50-day moving average is $222.51 and its two-hundred day moving average is $201.42. The company has a debt-to-equity ratio of 44.14, a current ratio of 0.74 and a quick ratio of 0.61. AbbVie has a 1-year low of $163.81 and a 1-year high of $244.81. The company has a market cap of $374.58 billion, a price-to-earnings ratio of 100.97, a price-to-earnings-growth ratio of 1.42 and a beta of 0.51.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The business had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.58 billion. During the same quarter in the prior year, the business posted $3.00 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. Analysts forecast that AbbVie will post 12.31 EPS for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Friday, January 16th will be issued a dividend of $1.73 per share. This is a boost from AbbVie’s previous quarterly dividend of $1.64. This represents a $6.92 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, January 16th. AbbVie’s payout ratio is presently 524.24%.

Insider Transactions at AbbVie

In other AbbVie news, EVP Azita Saleki-Gerhardt sold 42,370 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $198.42, for a total transaction of $8,407,055.40. Following the sale, the executive vice president owned 177,292 shares in the company, valued at approximately $35,178,278.64. This represents a 19.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Institutional investors have recently made changes to their positions in the stock. Argent Advisors Inc. increased its stake in AbbVie by 19.3% in the third quarter. Argent Advisors Inc. now owns 2,805 shares of the company’s stock valued at $649,000 after purchasing an additional 453 shares during the last quarter. Trifecta Capital Advisors LLC increased its stake in AbbVie by 2.3% during the third quarter. Trifecta Capital Advisors LLC now owns 39,928 shares of the company’s stock worth $9,245,000 after acquiring an additional 900 shares during the last quarter. Cahill Financial Advisors Inc. increased its stake in AbbVie by 8.2% during the third quarter. Cahill Financial Advisors Inc. now owns 3,046 shares of the company’s stock worth $705,000 after acquiring an additional 231 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its stake in AbbVie by 121.3% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 2,700 shares of the company’s stock worth $625,000 after acquiring an additional 1,480 shares during the last quarter. Finally, Asset Allocation & Management Company LLC acquired a new stake in AbbVie during the third quarter worth about $219,000. 70.23% of the stock is owned by institutional investors and hedge funds.

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.