AbbVie’s (ABBV) Neutral Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reissued their neutral rating on shares of AbbVie (NYSE:ABBV) in a research report released on Tuesday morning, Marketbeat Ratings reports. The Goldman Sachs Group currently has a $194.00 price target on the stock.

A number of other brokerages have also commented on ABBV. Piper Sandler upped their target price on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Truist Financial upped their price target on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Morgan Stanley raised their price target on shares of AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. BMO Capital Markets raised their price objective on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Piper Sandler Companies restated an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $210.71.

AbbVie Stock Down 3.4 %

Shares of AbbVie stock opened at $173.80 on Tuesday. AbbVie has a 1-year low of $153.58 and a 1-year high of $218.66. The company has a market capitalization of $307.44 billion, a PE ratio of 72.42, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. The business has a 50-day moving average of $200.47 and a 200-day moving average of $188.60.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the company posted $2.79 EPS. As a group, equities analysts forecast that AbbVie will post 12.31 EPS for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date is Tuesday, April 15th. AbbVie’s dividend payout ratio (DPR) is 273.33%.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the sale, the executive vice president now owns 53,234 shares of the company’s stock, valued at approximately $11,183,398.72. This trade represents a 52.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of AbbVie stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares of the company’s stock, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,471 shares of company stock worth $23,426,451. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

A number of hedge funds have recently made changes to their positions in ABBV. Groupama Asset Managment lifted its stake in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after acquiring an additional 38,974 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in shares of AbbVie during the fourth quarter worth about $29,000. EnRich Financial Partners LLC grew its position in AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in AbbVie in the 4th quarter valued at approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie during the fourth quarter valued at $31,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

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.