AbbVie (NYSE:ABBV) Now Covered by Analysts at Wolfe Research

Wolfe Research initiated coverage on shares of AbbVie (NYSE:ABBV) in a report published on Friday, Marketbeat.com reports. The brokerage issued an outperform rating and a $205.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. Sanford C. Bernstein assumed coverage on AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. BMO Capital Markets reduced their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a research report on Tuesday. TD Cowen boosted their price objective on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Morgan Stanley cut their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Barclays upped their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and a consensus target price of $203.89.

AbbVie Stock Down 2.7 %

ABBV stock traded down $4.64 during mid-day trading on Friday, hitting $164.99. 11,265,398 shares of the company were exchanged, compared to its average volume of 5,469,640. The firm has a fifty day simple moving average of $192.04 and a 200 day simple moving average of $180.78. The company has a market capitalization of $291.56 billion, a PE ratio of 57.26, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63. AbbVie has a twelve month low of $137.05 and a twelve month high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the company earned $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. On average, research analysts forecast that AbbVie will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s dividend payout ratio (DPR) is presently 215.28%.

Institutional Trading of AbbVie

Institutional investors have recently modified their holdings of the company. Fairway Wealth LLC acquired a new position in AbbVie in the second quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the second quarter worth $27,000. Groupama Asset Managment lifted its holdings in shares of AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $28,000. Finally, Quest Partners LLC increased its stake in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after purchasing an additional 207 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Company Profile

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.