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

Shares of AbbVie Inc. (NYSE:ABBV) have been given an average recommendation of “Moderate Buy” by the twenty-five research firms that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $267.6667.

A number of brokerages have commented on ABBV. Morgan Stanley upped their price target on shares of AbbVie from $270.00 to $278.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Guggenheim lifted their price objective on AbbVie from $249.00 to $261.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Wall Street Zen downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 5th. Bank of America upped their target price on AbbVie from $234.00 to $276.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Wells Fargo & Company raised their target price on AbbVie from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 10th.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie’s long-term safety and efficacy extension data for Bimatoprost SR could strengthen the case for its glaucoma pipeline if results continue to show durable safety and benefit. AbbVie’s Bimatoprost SR Extension Data: Why Long-Term Glaucoma Safety Matters for Investors
• Positive Sentiment: Analyst commentary highlighted confidence in AbbVie’s ability to replace Humira revenue, with Skyrizi and Rinvoq helping ease concerns about the company’s long-term earnings outlook. Should You Buy, Sell or Hold ABBV Stock After Its 9% YTD Rise?
• Positive Sentiment: AbbVie has also been described as a trending stock, suggesting elevated investor attention that can reinforce momentum in the shares. AbbVie Inc. (ABBV) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Separate technical coverage pointed to a bullish “golden cross” setup, which may be encouraging traders looking for continued upside momentum in AbbVie. AbbVie vs Baxter: One Golden Cross Is Real, One Is a Trap
• Neutral Sentiment: AbbVie was the target of unusually heavy call-option buying, which shows speculation and near-term trading interest but does not by itself confirm fundamental strength.
• Neutral Sentiment: Some valuation-focused commentary said the stock may be fully priced after its multi-year run, which could temper enthusiasm even as the growth story remains intact. AbbVie (ABBV) Stock Looks Fully Priced After A 152% Run
• Negative Sentiment: Reports that AbbVie has extended a slide for multiple sessions suggest some traders have been taking profits or reacting to valuation concerns in the near term. AbbVie extends slide to a seventh straight session

AbbVie Stock Performance

Shares of NYSE ABBV opened at $244.21 on Thursday. The company’s 50 day moving average price is $227.70 and its 200-day moving average price is $221.54. AbbVie has a 52-week low of $184.63 and a 52-week high of $261.64. The company has a market capitalization of $431.47 billion, a P/E ratio of 120.30, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.06. AbbVie had a net margin of 5.79% and a negative return on equity of 576.45%. The company had revenue of $15 billion during the quarter, compared to analysts’ expectations of $14.72 billion. During the same period in the prior year, the company posted $2.46 earnings per share. AbbVie’s revenue for the quarter was up 12.4% compared to the same quarter last year. Analysts forecast that AbbVie will post 14.22 earnings per share for the current year.

AbbVie Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders 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 dividend yield of 2.8%. The ex-dividend date is Wednesday, July 15th. AbbVie’s dividend payout ratio is presently 340.89%.

Institutional Trading of AbbVie

Several hedge funds have recently modified their holdings of ABBV. Willner & Heller LLC increased its position in shares of AbbVie by 0.7% during the 2nd quarter. Willner & Heller LLC now owns 5,852 shares of the company’s stock valued at $1,472,000 after purchasing an additional 43 shares during the last quarter. Bank of Jackson Hole Trust boosted its holdings in shares of AbbVie by 0.6% in the 4th quarter. Bank of Jackson Hole Trust now owns 7,213 shares of the company’s stock worth $1,648,000 after buying an additional 44 shares during the last quarter. Eclectic Associates Inc. ADV grew its position in AbbVie by 0.8% during the fourth quarter. Eclectic Associates Inc. ADV now owns 5,852 shares of the company’s stock valued at $1,337,000 after buying an additional 45 shares during the period. Imprint Wealth LLC grew its position in AbbVie by 56.2% during the fourth quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after buying an additional 45 shares during the period. Finally, Hardin Capital Partners LLC increased its holdings in AbbVie by 1.4% during the fourth quarter. Hardin Capital Partners LLC now owns 3,321 shares of the company’s stock worth $759,000 after buying an additional 46 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Company Profile

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.