AbbVie Inc. (NYSE:ABBV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

AbbVie Inc. (NYSE:ABBV – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the twenty-five brokerages that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $268.0952.

Several equities analysts have recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $298.00 price objective on shares of AbbVie in a report on Tuesday, June 23rd. Sanford C. Bernstein reiterated a “market perform” rating on shares of AbbVie in a report on Tuesday, June 23rd. Canaccord Genuity Group increased their price target on AbbVie from $273.00 to $282.00 and gave the company a “buy” rating in a research report on Wednesday. Bank of America raised their price target on AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research note on Friday, July 10th. Finally, BMO Capital Markets boosted their price target on AbbVie from $258.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th.

Get AbbVie alerts:

View Our Latest Analysis on ABBV

Institutional Trading of AbbVie

Large investors have recently added to or reduced their stakes in the company. Chelsea Counsel Co. bought a new stake in shares of AbbVie in the 3rd quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new position in AbbVie during the fourth quarter worth about $28,000. Imprint Wealth LLC grew its holdings in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock worth $29,000 after purchasing an additional 45 shares during the period. Westend Capital Management LLC acquired a new position in AbbVie during the fourth quarter worth approximately $29,000. Finally, IFC & Insurance Marketing Inc. bought a new stake in AbbVie in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 0.9%

NYSE ABBV opened at $253.75 on Thursday. The firm’s 50 day moving average is $232.69 and its 200-day moving average is $222.41. The company has a market capitalization of $448.32 billion, a PE ratio of 125.00, a price-to-earnings-growth ratio of 0.85 and a beta of 0.30. AbbVie has a 12-month low of $186.77 and a 12-month high of $261.64.

AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.72 billion. During the same quarter last year, the firm earned $2.46 earnings per share. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts expect that AbbVie will post 14.18 EPS for the current year.

AbbVie Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a dividend of $1.73 per share. This represents a $6.92 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Wednesday, July 15th. AbbVie’s payout ratio is presently 340.89%.

AbbVie News Roundup

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: Canaccord Genuity raised its price target on AbbVie to $282 from $273 and reiterated a buy rating, signaling confidence in further upside for AbbVie Inc. (ABBV). Benzinga report
• Positive Sentiment: AbbVie’s aesthetics business got a boost after Allergan Aesthetics received European Commission approval for Boey, expanding the company’s portfolio in Europe and potentially supporting future revenue growth. Yahoo Finance article
• Neutral Sentiment: Several recent articles characterized AbbVie as a strong buy-and-hold name and noted that the stock has recently outperformed the broader market, reinforcing a generally constructive long-term view. Yahoo Finance article
• Negative Sentiment: Investors are watching AbbVie’s Q2 oncology revenue closely, with analysts warning that weakness in Imbruvica may outweigh gains from Venclexta and newer cancer treatments, which could pressure results. Yahoo Finance article

AbbVie Company Profile

(Get Free Report)

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.

Read More

• Five stocks we like better than AbbVie
• Could Truth API Become Trump Media’s First Meaningful Revenue Driver?
• Small Caps Are Crushing the S&P 500—3 Stocks Still Worth Buying
• Moog Is More Than a Missile Maker, and Wall Street Is Noticing
• A Boring Dividend Growth Strategy Becomes a Solid Defensive Play

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.