AbbVie (NYSE:ABBV) Rating Lowered to Neutral at Daiwa Capital Markets

Daiwa Capital Markets lowered shares of AbbVie (NYSE:ABBV) from an outperform rating to a neutral rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. They currently have $180.00 target price on the stock.

A number of other equities analysts have also weighed in on ABBV. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. Wells Fargo & Company increased their price objective on AbbVie to $195.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Truist Financial boosted their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Morgan Stanley decreased their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a research note on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average target price of $202.38.

AbbVie Stock Up 0.0 %

Shares of AbbVie stock opened at $176.19 on Thursday. The company has a market capitalization of $311.35 billion, a P/E ratio of 61.18, a price-to-earnings-growth ratio of 2.02 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business has a 50-day moving average of $186.76 and a two-hundred day moving average of $182.38. AbbVie has a 1 year low of $145.20 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last posted its 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. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period in the prior year, the business earned $2.95 EPS. AbbVie’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, equities analysts predict that AbbVie will post 10.95 EPS for the current year.

AbbVie Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Wednesday, January 15th will be paid a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. This represents a $6.56 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, January 15th. AbbVie’s payout ratio is currently 227.78%.

Hedge Funds Weigh In On AbbVie

Several institutional investors and hedge funds have recently modified their holdings of ABBV. Fairway Wealth LLC acquired a new position in shares of AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in AbbVie during the 2nd quarter worth approximately $27,000. Groupama Asset Managment boosted its stake in AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after purchasing an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter valued at $28,000. Finally, Quest Partners LLC increased its position in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after buying an additional 207 shares during the period. 70.23% of the stock is currently 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.