Research Analysts’ Weekly Ratings Updates for AbbVie (ABBV)

Several brokerages have updated their recommendations and price targets on shares of AbbVie (NYSE: ABBV) in the last few weeks:

• 11/22/2024 – AbbVie was upgraded by analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating.
• 11/22/2024 – AbbVie was upgraded by analysts at Leerink Partners from a “market perform” rating to an “outperform” rating. They now have a $206.00 price target on the stock.
• 11/19/2024 – AbbVie had its price target raised by analysts at Wells Fargo & Company to $195.00. They now have a “buy” rating on the stock.
• 11/15/2024 – AbbVie is now covered by analysts at Wolfe Research. They set an “outperform” rating and a $205.00 price target on the stock.
• 11/13/2024 – AbbVie had its price target lowered by analysts at JPMorgan Chase & Co. from $210.00 to $200.00. They now have an “overweight” rating on the stock.
• 11/12/2024 – AbbVie had its price target lowered by analysts at Morgan Stanley from $231.00 to $224.00. They now have an “overweight” rating on the stock.
• 11/12/2024 – AbbVie had its price target lowered by analysts at BMO Capital Markets from $228.00 to $208.00. They now have an “outperform” rating on the stock.
• 11/12/2024 – AbbVie had its price target lowered by analysts at Citigroup Inc. from $226.00 to $215.00. They now have a “buy” rating on the stock.
• 11/6/2024 – AbbVie had its price target raised by analysts at Guggenheim from $212.00 to $221.00. They now have a “buy” rating on the stock.
• 11/4/2024 – AbbVie was upgraded by analysts at Argus from a “hold” rating to a “buy” rating.
• 10/31/2024 – AbbVie had its price target raised by analysts at Morgan Stanley from $218.00 to $231.00. They now have an “overweight” rating on the stock.
• 10/31/2024 – AbbVie had its price target raised by analysts at UBS Group AG from $195.00 to $200.00. They now have a “neutral” rating on the stock.
• 10/31/2024 – AbbVie had its price target raised by analysts at Citigroup Inc. from $215.00 to $226.00. They now have a “buy” rating on the stock.
• 10/25/2024 – AbbVie had its price target raised by analysts at Citigroup Inc. from $170.00 to $215.00. They now have a “buy” rating on the stock.
• 10/18/2024 – AbbVie had its price target raised by analysts at Bank of America Co. from $185.00 to $195.00. They now have a “neutral” rating on the stock.
• 10/17/2024 – AbbVie had its price target raised by analysts at BMO Capital Markets from $214.00 to $220.00. They now have an “outperform” rating on the stock.
• 10/17/2024 – AbbVie is now covered by analysts at Sanford C. Bernstein. They set a “market perform” rating and a $203.00 price target on the stock.
• 10/10/2024 – AbbVie had its price target raised by analysts at Truist Financial Co. from $210.00 to $215.00. They now have a “buy” rating on the stock.
• 10/9/2024 – AbbVie had its price target raised by analysts at UBS Group AG from $185.00 to $195.00. They now have a “neutral” rating on the stock.
• 10/7/2024 – AbbVie had its price target raised by analysts at Barclays PLC from $200.00 to $212.00. They now have an “overweight” rating on the stock.
• 10/7/2024 – AbbVie had its price target raised by analysts at TD Cowen from $195.00 to $225.00. They now have a “buy” rating on the stock.

AbbVie Stock Down 2.7 %

Shares of NYSE:ABBV opened at $176.55 on Thursday. AbbVie Inc. has a 1 year low of $142.66 and a 1 year high of $207.32. The business has a 50 day simple moving average of $187.45 and a two-hundred day simple moving average of $182.21. The firm has a market capitalization of $311.99 billion, a PE ratio of 61.30, a price-to-earnings-growth ratio of 2.08 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. On average, equities analysts predict that AbbVie Inc. will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.72%. AbbVie’s dividend payout ratio is presently 227.78%.

Hedge Funds Weigh In On AbbVie

A number of large investors have recently made changes to their positions in ABBV. GGM Financials LLC boosted its holdings in AbbVie by 0.7% during the third quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock worth $1,362,000 after buying an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc boosted its holdings in AbbVie by 0.3% during the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock worth $3,575,000 after buying an additional 52 shares in the last quarter. Dillon & Associates Inc. boosted its holdings in AbbVie by 0.8% during the third quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after buying an additional 52 shares in the last quarter. Frisch Financial Group Inc. boosted its holdings in AbbVie by 0.8% during the second quarter. Frisch Financial Group Inc. now owns 6,920 shares of the company’s stock worth $1,187,000 after buying an additional 53 shares in the last quarter. Finally, First Citizens Financial Corp boosted its holdings in AbbVie by 0.9% during the third quarter. First Citizens Financial Corp now owns 5,777 shares of the company’s stock worth $1,141,000 after buying an additional 53 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

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.