AbbVie (NYSE:ABBV) Price Target Raised to $195.00 at Wells Fargo & Company

AbbVie (NYSE:ABBV) had its target price upped by Wells Fargo & Company to $195.00 in a research note released on Tuesday,Stock Target Advisor reports. Wells Fargo & Company currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Wolfe Research assumed coverage on AbbVie in a research report on Friday, November 15th. They set an “outperform” rating and a $205.00 price objective for the company. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Morgan Stanley decreased their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research report on Tuesday, November 12th. Finally, TD Cowen raised their price target on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $203.37.

AbbVie Trading Up 0.2 %

NYSE:ABBV opened at $166.58 on Tuesday. The stock’s 50 day moving average price is $190.79 and its 200 day moving average price is $181.10. The company has a market capitalization of $294.37 billion, a PE ratio of 57.84, a P/E/G ratio of 2.01 and a beta of 0.63. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. AbbVie has a 52-week low of $137.14 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The firm had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 EPS. On average, research analysts anticipate that AbbVie will post 10.95 EPS for the current 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 of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a yield of 3.94%. AbbVie’s payout ratio is currently 215.28%.

Hedge Funds Weigh In On AbbVie

Several hedge funds have recently bought and sold shares of ABBV. Fairway Wealth LLC purchased a new position in AbbVie during the second quarter worth $26,000. Ridgewood Investments LLC purchased a new position in AbbVie during the second quarter worth $27,000. Groupama Asset Managment increased its position in AbbVie by 40.3% during the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the third quarter worth $28,000. Finally, Quest Partners LLC increased its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Company Profile

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.