AbbVie (NYSE:ABBV) Stock Price Up 0.2% – Should You Buy?

AbbVie Inc. (NYSE:ABBV) rose 0.2% during mid-day trading on Monday . The stock traded as high as $166.17 and last traded at $165.32. Approximately 1,037,793 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 5,449,917 shares. The stock had previously closed at $164.99.

Analysts Set New Price Targets

ABBV has been the topic of several analyst reports. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a 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 for the company in a report on Tuesday, November 12th. Piper Sandler boosted their price objective on shares of AbbVie from $196.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Morgan Stanley decreased their price objective on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.37.

AbbVie Trading Up 0.2 %

The firm has a market cap 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. The company’s 50 day moving average price is $190.79 and its two-hundred day moving average price is $181.10.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for 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 firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.95 EPS. As a group, sell-side analysts forecast that AbbVie Inc. 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. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is an increase from AbbVie’s previous quarterly dividend of $1.55. The ex-dividend date is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a yield of 3.94%. AbbVie’s dividend payout ratio (DPR) is 215.28%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Second Line Capital LLC purchased a new position in AbbVie during the 3rd quarter valued at about $379,000. TCW Group Inc. boosted its holdings in shares of AbbVie by 0.5% in the 3rd quarter. TCW Group Inc. now owns 403,638 shares of the company’s stock valued at $79,710,000 after buying an additional 2,199 shares in the last quarter. Hohimer Wealth Management LLC grew its position in shares of AbbVie by 12.6% in the 3rd quarter. Hohimer Wealth Management LLC now owns 1,432 shares of the company’s stock worth $283,000 after buying an additional 160 shares during the last quarter. Fortem Financial Group LLC grew its position in shares of AbbVie by 19.1% in the 3rd quarter. Fortem Financial Group LLC now owns 8,509 shares of the company’s stock worth $1,680,000 after buying an additional 1,362 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of AbbVie in the 3rd quarter worth approximately $4,888,000. 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.