AbbVie Inc. (NYSE:ABBV) Receives Average Rating of “Hold” from Analysts

Shares of AbbVie Inc. (NYSE:ABBVGet Rating) have earned a consensus rating of “Hold” from the nineteen brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $160.56.

ABBV has been the subject of a number of research reports. SVB Leerink reduced their price objective on AbbVie from $140.00 to $135.00 and set an “underperform” rating for the company in a research report on Friday, September 30th. Barclays dropped their target price on AbbVie from $160.00 to $155.00 and set an “equal weight” rating for the company in a report on Monday, October 31st. StockNews.com began coverage on AbbVie in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Atlantic Securities dropped their target price on AbbVie from $162.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, October 31st. Finally, Morgan Stanley increased their target price on AbbVie from $178.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, December 6th.

Insider Activity at AbbVie

In related news, EVP Timothy J. Richmond sold 42,370 shares of the firm’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $163.44, for a total transaction of $6,924,952.80. Following the completion of the sale, the executive vice president now directly owns 13,837 shares of the company’s stock, valued at approximately $2,261,519.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On AbbVie

Several hedge funds and other institutional investors have recently made changes to their positions in ABBV. O Dell Group LLC increased its stake in shares of AbbVie by 108.7% in the 3rd quarter. O Dell Group LLC now owns 192 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. Bradley & Co. Private Wealth Management LLC boosted its position in shares of AbbVie by 80.6% in the 2nd quarter. Bradley & Co. Private Wealth Management LLC now owns 177 shares of the company’s stock worth $27,000 after purchasing an additional 79 shares during the last quarter. Oliver Lagore Vanvalin Investment Group boosted its position in shares of AbbVie by 85.3% in the 3rd quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock worth $27,000 after purchasing an additional 93 shares during the last quarter. Align Wealth Management LLC bought a new position in shares of AbbVie in the 4th quarter worth $27,000. Finally, Activest Wealth Management bought a new position in shares of AbbVie in the 3rd quarter worth $31,000. 67.71% of the stock is owned by institutional investors and hedge funds.

AbbVie Price Performance

Shares of ABBV stock opened at $147.69 on Wednesday. The stock has a 50 day moving average of $159.47 and a two-hundred day moving average of $149.22. The company has a current ratio of 0.93, a quick ratio of 0.83 and a debt-to-equity ratio of 3.77. AbbVie has a 12 month low of $130.79 and a 12 month high of $175.91. The company has a market capitalization of $261.19 billion, a P/E ratio of 19.72, a P/E/G ratio of 3.20 and a beta of 0.69.

AbbVie (NYSE:ABBVGet Rating) last announced its quarterly earnings data on Friday, October 28th. The company reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.56 by $0.10. AbbVie had a return on equity of 155.88% and a net margin of 23.19%. The company had revenue of $14.81 billion during the quarter, compared to the consensus estimate of $14.95 billion. During the same quarter last year, the company earned $3.33 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts expect that AbbVie will post 13.89 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 4.01%. This is a boost from AbbVie’s previous quarterly dividend of $1.41. The ex-dividend date of this dividend is Thursday, January 12th. AbbVie’s dividend payout ratio (DPR) is currently 79.04%.

AbbVie Company Profile

(Get Rating)

AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.

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Analyst Recommendations for AbbVie (NYSE:ABBV)

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