AbbVie (NYSE:ABBV) Price Target Raised to $325.00

AbbVie (NYSE:ABBV) had its target price boosted by Cantor Fitzgerald from $290.00 to $325.00 in a report published on Monday, Marketbeat.com reports. The firm currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. UBS Group upped their price target on shares of AbbVie from $275.00 to $295.00 and gave the stock a “neutral” rating in a research note on Monday. Wolfe Research upgraded shares of AbbVie from a “peer perform” rating to an “outperform” rating and raised their price objective for the company from $235.00 to $300.00 in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 5th. Weiss Ratings raised shares of AbbVie from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Finally, Canaccord Genuity Group upped their target price on shares of AbbVie from $290.00 to $338.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $297.46.

AbbVie Stock Performance

Shares of NYSE:ABBV opened at $294.15 on Monday. The company has a 50-day simple moving average of $270.80 and a 200-day simple moving average of $238.28. AbbVie has a one year low of $190.75 and a one year high of $298.74. The stock has a market capitalization of $519.71 billion, a price-to-earnings ratio of 50.63, a PEG ratio of 1.30 and a beta of 0.20.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 30th. The company reported $3.82 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. The firm had revenue of $17.40 billion for the quarter, compared to analyst estimates of $17.32 billion. AbbVie had a net margin of 15.67% and a negative return on equity of 435.41%. AbbVie’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the firm posted $1.86 EPS. As a group, research analysts forecast that AbbVie will post 13.99 EPS for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 16th. Investors of record on Friday, January 15th will be given a dividend of $1.82 per share. The ex-dividend date is Friday, January 15th. This represents a $7.28 dividend on an annualized basis and a yield of 2.5%. This is a boost from AbbVie’s previous quarterly dividend of $1.73. AbbVie’s dividend payout ratio (DPR) is 125.30%.

Insider Buying and Selling

In related news, EVP Nicholas Donoghoe sold 32,710 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the transaction, the executive vice president owned 74,430 shares of the company’s stock, valued at approximately $18,607,500. The trade was a 30.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.06% of the company’s stock.

Institutional Investors Weigh In On AbbVie

Several hedge funds have recently modified their holdings of the company. Burk Holdings LLC acquired a new stake in AbbVie in the 2nd quarter worth about $30,000. Marquette Asset Management LLC increased its stake in shares of AbbVie by 52.2% during the 2nd quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock valued at $35,000 after acquiring an additional 48 shares during the last quarter. IMG Wealth Management Inc. increased its stake in shares of AbbVie by 3,060.0% during the 2nd quarter. IMG Wealth Management Inc. now owns 158 shares of the company’s stock valued at $40,000 after acquiring an additional 153 shares during the last quarter. Principia Wealth Advisory LLC lifted its holdings in shares of AbbVie by 38.9% during the 2nd quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Finally, Tacita Capital Inc purchased a new position in shares of AbbVie during the 2nd quarter worth about $42,000. 70.23% of the stock is owned by institutional investors and hedge funds.

More AbbVie News

Here are the key news stories impacting AbbVie this week:

• Positive Sentiment: AbbVie secured global rights to Nxera’s investigational oral IBD drug NXE0033744. The deal includes $100 million upfront, up to $1.37 billion in development and commercial milestones, and tiered royalties. The agreement could strengthen AbbVie’s future immunology pipeline, but milestone payments depend on development and commercial progress. Nxera licensing agreement
• Positive Sentiment: Several analysts raised their AbbVie price targets, adding to a favorable near-term outlook. Morgan Stanley price target update
• Positive Sentiment: AbbVie expanded its Oxford research facility as part of an investment exceeding £120 million, supporting longer-term research in immunology, neurology and oncology. Reuters report on Oxford R&D expansion
• Neutral Sentiment: Updated full-year revenue guidance of $67.8 billion is slightly above consensus, while projected EPS of $13.95–$13.99 is broadly in line. Fourth-quarter revenue guidance also edged above expectations, but EPS guidance of $3.83–$3.87 is below the $3.89 consensus. AbbVie outlook and valuation
• Negative Sentiment: AbbVie discontinued a Phase 2 solid-tumor drug program after seeing “limited benefit,” a setback for that part of its pipeline. Report on discontinued drug program

AbbVie Company Profile

AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.

The company’s key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.