AbbVie Inc. (NYSE:ABBV – Get Free Report)’s share price traded up 0.5% during trading on Friday after Morgan Stanley raised their price target on the stock from $191.00 to $196.00. Morgan Stanley currently has an overweight rating on the stock. AbbVie traded as high as $171.63 and last traded at $170.78. 548,543 shares were traded during mid-day trading, a decline of 90% from the average session volume of 5,566,316 shares. The stock had previously closed at $169.91.
Several other equities research analysts have also commented on ABBV. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Wednesday, July 3rd. BMO Capital Markets reduced their target price on AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Piper Sandler restated an “overweight” rating and set a $190.00 price target on shares of AbbVie in a research note on Tuesday, July 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Tuesday. Finally, Barclays decreased their price objective on AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.69.
Check Out Our Latest Analysis on AbbVie
Institutional Trading of AbbVie
AbbVie Stock Up 0.2 %
The firm has a 50 day moving average of $165.23 and a two-hundred day moving average of $168.39. The stock has a market capitalization of $300.69 billion, a PE ratio of 50.53, a P/E/G ratio of 2.18 and a beta of 0.64. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business had revenue of $12.31 billion during the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter last year, the business posted $2.46 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 10.73 earnings per share for the current year.
AbbVie Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be paid a dividend of $1.55 per share. The ex-dividend date is Monday, July 15th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 3.64%. AbbVie’s dividend payout ratio (DPR) is 183.98%.
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.
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