In yesterday’s Wall Street session, Abbvie Inc (NYSE:ABBV) shares traded at $147.45, down -0.16% from the previous session.
30 analysts cover Abbvie Inc (NYSE:ABBV), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $205.00 and a low of $135.00, we find $167.00. Given the previous closing price of $147.69, this indicates a potential upside of 13.07 percent. ABBV stock price is now -1.60% away from the 50-day moving average and -1.32% away from the 200-day moving average. The market capitalization of the company currently stands at $260.26B.
The stock has received a hold rating from 14 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $168.08 as their price target over the next twelve months.
With the price target of $177, Raymond James recently initiated with Outperform rating for Abbvie Inc (NYSE: ABBV).
In other news, GONZALEZ RICHARD A, CHAIRMAN OF THE BOARD AND CEO sold 60,000 shares of the company’s stock on Aug 01. The stock was sold for $8,914,800 at an average price of $148.58. Upon completion of the transaction, the CHAIRMAN OF THE BOARD AND CEO now directly owns 565,294 shares in the company, valued at $83.35 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 31, CHAIRMAN OF THE BOARD AND CEO GONZALEZ RICHARD A sold 18,500 shares of the business’s stock. A total of $2,759,275 was realized by selling the stock at an average price of $149.15. This leaves the insider owning 625,294 shares of the company worth $92.2 million. Insiders disposed of 772,070 shares of company stock worth roughly $113.84 million over the past 1 year. A total of 0.12% 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 VOLORIDGE INVESTMENT MANAGEMENT, LLC during the first quarter worth $177,072,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $134,082,000 in shares of ABBV during the first quarter. In the first quarter, AVIDITY PARTNERS MANAGEMENT LP acquired a new stake in Abbvie Inc valued at approximately $76,438,000. SQUAREPOINT OPS LLC acquired a new stake in ABBV for approximately $68,564,000. UNISUPER MANAGEMENT PTY LTD purchased a new stake in ABBV valued at around $51,386,000 in the second quarter. In total, there are 3,822 active investors with 70.73% ownership of the company’s stock.
On Thursday morning Abbvie Inc (NYSE: ABBV) stock kicked off with the opening price of $147.93. During the past 12 months, Abbvie Inc has had a low of $130.96 and a high of $168.11. As of last week, the company has a debt-to-equity ratio of 4.74, a current ratio of 0.89, and a quick ratio of 0.77. The fifty day moving average price for ABBV is $149.95 and a two-hundred day moving average price translates $149.35 for the stock.
The latest earnings results from Abbvie Inc (NYSE: ABBV) was released for Jun, 2023. According to the Drug Manufacturers – General Company, earnings per share came in at $2.91, beating analysts’ expectations of $2.81 by 0.1. This compares to $0.52 EPS in the same period last year. The net profit margin was 15.43% and return on equity was 62.83% for ABBV. The company reported revenue of $13.87 billion for the quarter, compared to $14.58 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -4.92 percent. For the current quarter, analysts expect ABBV to generate $13.69B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/15/2023. Investors who held shares on 07/14/2023 were paid a $1.48 dividend. On an annualized basis, this represents a $5.70 dividend and a 3.86% percent yield. There was an ex-dividend date of 07/13/2023 for this dividend. In terms of dividend payout ratio, ABBV is presently at 86.17%.
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.; Genentech, Inc.; and California Institute for Biomedical Research (Calibr). The company was incorporated in 2012 and is headquartered in North Chicago, Illinois.
