The stock of AbbVie Inc. (NYSE:ABBV) last traded at $143.29, down -2.25% from the previous session.
Data from the available sources indicates that AbbVie Inc. (NYSE:ABBV) is covered by 26 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $195.00 and a low of $135.00, we find $163.50. Given the previous closing price of $146.59, this indicates a potential upside of 11.54 percent. ABBV stock price is now -7.85% away from the 50-day moving average and -4.89% away from the 200-day moving average. The market capitalization of the company currently stands at $251.84B.
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In total, 13 analysts have assigned it a hold rating, and 12 have given it a buy rating. Brokers who have rated the stock have averaged $165.59 as their price target over the next twelve months.
On March 01, 2023, Guggenheim recently initiated its ‘Buy’ rating on the stock quoting a target price of $172, while ‘Wolfe Research’ rates the stock as ‘Peer Perform’.
In other news, Sorg Elaine K., SVP, US COMMERCIAL OPERATIONS sold 6,130 shares of the company’s stock on Apr 25. The stock was sold for $1,011,450 at an average price of $165.00. Upon completion of the transaction, the SVP, US COMMERCIAL OPERATIONS now directly owns 35,330 shares in the company, valued at $5.06 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 17, SVP, US COMMERCIAL OPERATIONS Sorg Elaine K. sold 7,499 shares of the business’s stock. A total of $1,212,338 was realized by selling the stock at an average price of $161.67. This leaves the insider owning 35,330 shares of the company worth $5.06 million. Insiders disposed of 858,143 shares of company stock worth roughly $122.96 million over the past 1 year. A total of 0.13% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ABBV stock. A new stake in AbbVie Inc. shares was purchased by POINT72 ASSET MANAGEMENT, L.P. during the first quarter worth $147,431,000. HARDING LOEVNER LP invested $144,338,000 in shares of ABBV during the first quarter. In the first quarter, ALYESKA INVESTMENT GROUP, L.P. acquired a new stake in AbbVie Inc. valued at approximately $104,798,000. IRON TRIANGLE PARTNERS LP acquired a new stake in ABBV for approximately $45,853,000. HARVEST PORTFOLIOS GROUP INC. purchased a new stake in ABBV valued at around $42,861,000 in the second quarter. In total, there are 3,870 active investors with 70.90% ownership of the company’s stock.
With an opening price of $145.86 on Tuesday morning, AbbVie Inc. (NYSE: ABBV) set off the trading day. During the past 12 months, AbbVie Inc. has had a low of $134.09 and a high of $168.11. As of last week, the company has a debt-to-equity ratio of 4.68, a current ratio of 1.00, and a quick ratio of 0.80. The fifty day moving average price for ABBV is $155.26 and a two-hundred day moving average price translates $150.65 for the stock.
The latest earnings results from AbbVie Inc. (NYSE: ABBV) was released for Mar, 2023. According to the Drug Manufacturers – General Company, earnings per share came in at $2.46, inline with analysts’ expectations of $2.46. This compares to $2.53 EPS in the same period last year. The net profit margin was 13.30% and return on equity was 49.30% for ABBV. The company reported revenue of $12.22 billion for the quarter, compared to $13.54 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -9.7 percent. For the current quarter, analysts expect ABBV to generate $13.48B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 05/15/2023. Investors who held shares on 04/14/2023 were paid a $1.48 dividend. On an annualized basis, this represents a $5.92 dividend and a 4.13% percent yield. There was an ex-dividend date of 04/13/2023 for this dividend. In terms of dividend payout ratio, ABBV is presently at 134.20%.
AbbVie Inc.(ABBV) Company Profile
AbbVie Inc. discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet’s diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn’s disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies. It also provides facial injectables, plastics and regenerative medicine, body contouring, and skincare products; Vraylar for depressive disorder; Duopa and Duodopa to treat advanced Parkinson’s disease; and Ubrelvy for the acute treatment of migraine with or without aura in adults; Qulipta for episodic migraine. In addition, the company offers Lumigan/Ganfort and Alphagan/Combigan for the reduction of elevated intraocular pressure(IOP) in patients with open angle glaucoma (OAG) or ocular hypertension; Restasis, a calcineurin inhibitor immunosuppressant indicated to increase tear production; and eye care products. Further, it provides Mavyret/Maviret to treat chronic hepatitis C virus (HCV) genotype 1-6 infection and HCV genotype 1 infection; Creon, a pancreatic enzyme therapy; Lupron to treat advanced prostate cancer, endometriosis and central precocious puberty, and patients with anemia caused by uterine fibroids; Linzess/Constella to treat irritable bowel syndrome with constipation and chronic idiopathic constipation; and Synthroid for hypothyroidism. It has collaborations with Calico Life Sciences LLC; REGENXBIO Inc.; I-Mab Biopharma; Genmab A/S; Janssen Biotech, Inc.; and Genentech, Inc. The company was incorporated in 2012 and is headquartered in North Chicago, Illinois.
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