AbbVie (NYSE:ABBV) Price Target Cut to $200.00 by Analysts at JPMorgan Chase & Co.

AbbVie (NYSE:ABBV) had its price target trimmed by JPMorgan Chase & Co. from $210.00 to $200.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Guggenheim upped their target price on AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. BMO Capital Markets decreased their price objective on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Piper Sandler raised their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $203.89.

AbbVie Trading Down 2.7 %

NYSE ABBV opened at $164.99 on Wednesday. AbbVie has a 52 week low of $137.05 and a 52 week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock’s 50 day moving average price is $192.04 and its two-hundred day moving average price is $180.78. The stock has a market capitalization of $291.56 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 2.07 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. As a group, analysts anticipate that AbbVie will post 10.95 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Wednesday, January 15th. This is a positive change from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s dividend payout ratio (DPR) is 227.78%.

Institutional Trading of AbbVie

Large investors have recently modified their holdings of the stock. Goodman Advisory Group LLC raised its holdings in shares of AbbVie by 11.6% during the 3rd quarter. Goodman Advisory Group LLC now owns 15,534 shares of the company’s stock worth $3,068,000 after buying an additional 1,620 shares in the last quarter. Greenwood Gearhart Inc. acquired a new position in AbbVie during the third quarter worth about $215,000. 3Chopt Investment Partners LLC raised its stake in AbbVie by 2.6% during the third quarter. 3Chopt Investment Partners LLC now owns 13,368 shares of the company’s stock worth $2,640,000 after acquiring an additional 338 shares in the last quarter. Frisch Financial Group Inc. lifted its holdings in shares of AbbVie by 11.7% in the third quarter. Frisch Financial Group Inc. now owns 7,730 shares of the company’s stock worth $1,527,000 after acquiring an additional 810 shares during the last quarter. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of AbbVie by 10.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 4,123 shares of the company’s stock valued at $814,000 after purchasing an additional 384 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

About AbbVie

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.