AbbVie (NYSE:ABBV) Trading 0.5% Higher – Should You Buy?

by · The Cerbat Gem

AbbVie Inc. (NYSE:ABBV – Get Free Report)’s share price shot up 0.5% during trading on Friday . The stock traded as high as $201.80 and last traded at $201.43. 526,273 shares traded hands during trading, a decline of 90% from the average session volume of 5,302,833 shares. The stock had previously closed at $200.51.

Analyst Ratings Changes

Several research firms recently commented on ABBV. Piper Sandler boosted their price target on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Morgan Stanley boosted their price target on AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Truist Financial boosted their price target on AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, TD Cowen lifted their price objective on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average target price of $202.72.

View Our Latest Stock Report on ABBV

AbbVie Stock Up 0.0 %

The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a market capitalization of $354.26 billion, a P/E ratio of 69.94, a P/E/G ratio of 2.51 and a beta of 0.63. The stock has a fifty day moving average price of $194.41 and a two-hundred day moving average price of $180.25.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same period in the previous year, the business earned $2.95 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Research analysts forecast that AbbVie Inc. will post 10.96 EPS for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be given a $1.64 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.27%. AbbVie’s dividend payout ratio (DPR) is currently 215.28%.

Hedge Funds Weigh In On AbbVie

Hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new stake in AbbVie during the 1st quarter valued at $646,000. Quent Capital LLC lifted its stake in AbbVie by 3.3% during the first quarter. Quent Capital LLC now owns 8,740 shares of the company’s stock valued at $1,592,000 after buying an additional 283 shares in the last quarter. Nelson Capital Management LLC raised its stake in AbbVie by 27.3% during the 1st quarter. Nelson Capital Management LLC now owns 25,989 shares of the company’s stock valued at $4,733,000 after purchasing an additional 5,578 shares during the period. Benedetti & Gucer Inc. purchased a new position in shares of AbbVie during the first quarter valued at $267,000. Finally, Capital Wealth Planning LLC acquired a new stake in AbbVie during the 1st quarter worth about $1,751,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

About AbbVie

(Get Free Report)

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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