Shares of AbbVie Inc. (NYSE:ABBV) have been assigned an average recommendation of “Buy” from the seventeen brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $123.47.
Several equities analysts have recently commented on ABBV shares. Truist Securities began coverage on AbbVie in a report on Tuesday, July 27th. They set a “buy” rating and a $117.00 target price for the company. Argus lifted their price target on AbbVie from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 5th. SVB Leerink reduced their target price on shares of AbbVie from $148.00 to $142.00 and set an “outperform” rating for the company in a research note on Thursday, September 2nd. Mizuho boosted their price target on AbbVie from $128.00 to $131.00 and gave the stock a “buy” rating in a research report on Monday, August 2nd. Finally, Cowen boosted their target price on AbbVie from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, August 23rd.
AbbVie stock traded up $0.19 during midday trading on Thursday, reaching $107.91. The company’s stock had a trading volume of 147,556 shares, compared to its average volume of 7,024,817. The business has a 50-day simple moving average of $114.05 and a 200-day simple moving average of $112.81. The company has a quick ratio of 0.79, a current ratio of 0.91 and a debt-to-equity ratio of 5.89. AbbVie has a fifty-two week low of $79.11 and a fifty-two week high of $121.53. The company has a market cap of $190.70 billion, a P/E ratio of 28.91, a P/E/G ratio of 2.01 and a beta of 0.82.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Friday, October 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Thursday, October 14th. AbbVie’s dividend payout ratio is currently 49.24%.
In other AbbVie news, SVP Carrie C. Strom sold 5,057 shares of the business’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $120.00, for a total transaction of $606,840.00. Following the transaction, the senior vice president now owns 11,595 shares of the company’s stock, valued at $1,391,400. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Franklin Resources Inc. lifted its holdings in AbbVie by 79.5% in the second quarter. Franklin Resources Inc. now owns 16,643,367 shares of the company’s stock valued at $1,874,708,000 after buying an additional 7,370,931 shares during the period. Amundi bought a new position in shares of AbbVie in the second quarter valued at approximately $515,938,000. Morgan Stanley lifted its holdings in AbbVie by 14.7% during the first quarter. Morgan Stanley now owns 18,730,262 shares of the company’s stock worth $2,026,989,000 after acquiring an additional 2,393,757 shares during the period. Winslow Capital Management LLC bought a new stake in AbbVie during the second quarter worth $267,606,000. Finally, Canada Pension Plan Investment Board raised its stake in shares of AbbVie by 291.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,073,033 shares of the company’s stock valued at $332,564,000 after buying an additional 2,287,225 shares during the period. 65.82% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Company Profile
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, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.
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