Recent Investment Analysts’ Ratings Changes for AbbVie (ABBV)

Posted by Samantha Reynolds on Dec 25th, 2024

AbbVie (NYSE: ABBV) has recently received a number of price target changes and ratings updates:

12/17/2024 – AbbVie had its “overweight” rating reaffirmed by analysts at Piper Sandler Companies. They now have a $220.00 price target on the stock.
12/17/2024 – AbbVie had its price target raised by analysts at Piper Sandler from $212.00 to $220.00. They now have an “overweight” rating on the stock.
12/10/2024 – AbbVie had its “neutral” rating reaffirmed by analysts at Bank of America Co.. They now have a $191.00 price target on the stock.
12/5/2024 – AbbVie was downgraded by analysts at Daiwa Capital Markets from an “outperform” rating to a “neutral” rating. They now have a $180.00 price target on the stock.
12/5/2024 – AbbVie was downgraded by analysts at Daiwa America from a “strong-buy” rating to a “hold” rating.
11/22/2024 – AbbVie was upgraded by analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating.
11/22/2024 – AbbVie was upgraded by analysts at Leerink Partners from a “market perform” rating to an “outperform” rating. They now have a $206.00 price target on the stock.
11/19/2024 – AbbVie had its price target raised by analysts at Wells Fargo & Company to $195.00. They now have a “buy” rating on the stock.
11/15/2024 – AbbVie is now covered by analysts at Wolfe Research. They set an “outperform” rating and a $205.00 price target on the stock.
11/13/2024 – AbbVie had its price target lowered by analysts at JPMorgan Chase & Co. from $210.00 to $200.00. They now have an “overweight” rating on the stock.
11/12/2024 – AbbVie had its price target lowered by analysts at Morgan Stanley from $231.00 to $224.00. They now have an “overweight” rating on the stock.
11/12/2024 – AbbVie had its price target lowered by analysts at BMO Capital Markets from $228.00 to $208.00. They now have an “outperform” rating on the stock.
11/12/2024 – AbbVie had its price target lowered by analysts at Citigroup Inc. from $226.00 to $215.00. They now have a “buy” rating on the stock.
11/6/2024 – AbbVie had its price target raised by analysts at Guggenheim from $212.00 to $221.00. They now have a “buy” rating on the stock.
11/4/2024 – AbbVie was upgraded by analysts at Argus from a “hold” rating to a “buy” rating.
10/31/2024 – AbbVie had its price target raised by analysts at Morgan Stanley from $218.00 to $231.00. They now have an “overweight” rating on the stock.
10/31/2024 – AbbVie had its price target raised by analysts at UBS Group AG from $195.00 to $200.00. They now have a “neutral” rating on the stock.
10/31/2024 – AbbVie had its price target raised by analysts at Citigroup Inc. from $215.00 to $226.00. They now have a “buy” rating on the stock.

AbbVie Price Performance

ABBV traded up $1.61 during trading on Wednesday, hitting $180.00. The company’s stock had a trading volume of 2,692,814 shares, compared to its average volume of 5,602,751. The firm’s 50 day moving average price is $181.98 and its two-hundred day moving average price is $183.76. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The stock has a market capitalization of $318.09 billion, a price-to-earnings ratio of 62.50, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. AbbVie Inc. has a 12 month low of $153.58 and a 12 month high of $207.32.

AbbVie (NYSE:ABBV – Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.95 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a dividend of $1.64 per share. The ex-dividend date is Wednesday, January 15th. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.64%. AbbVie’s dividend payout ratio (DPR) is presently 227.78%.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of AbbVie

A number of hedge funds have recently made changes to their positions in ABBV. International Assets Investment Management LLC grew its holdings in shares of AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after acquiring an additional 4,471,806 shares in the last quarter. State Street Corp raised its position in AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after acquiring an additional 1,267,685 shares during the period. Assenagon Asset Management S.A. grew its position in shares of AbbVie by 59.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,096,858 shares of the company’s stock valued at $414,088,000 after acquiring an additional 781,858 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of AbbVie by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,841,189 shares of the company’s stock worth $1,516,358,000 after purchasing an additional 623,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after purchasing an additional 582,953 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

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.