AbbVie (NYSE:ABBV) Given New $200.00 Price Target at JPMorgan Chase & Co.

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

A number of other research analysts also recently weighed in on ABBV. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research report on Monday, August 5th. Wells Fargo & Company raised their target price on shares of AbbVie from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Truist Financial lifted their price objective on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets lowered their target price on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $203.83.

AbbVie Stock Down 0.4 %

Shares of ABBV opened at $170.46 on Wednesday. AbbVie has a 52 week low of $136.30 and a 52 week high of $207.32. The firm has a market capitalization of $301.23 billion, a P/E ratio of 59.19, a P/E/G ratio of 2.08 and a beta of 0.63. The company has a 50-day simple moving average of $193.61 and a 200-day simple moving average of $180.91. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last issued its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period in the previous year, the business earned $2.95 EPS. The firm’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts expect that AbbVie will post 10.95 earnings per share for the current year.

AbbVie Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be issued a $1.64 dividend. 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 3.85%. AbbVie’s dividend payout ratio is presently 215.28%.

Institutional Investors Weigh In On AbbVie

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in AbbVie by 6.2% during the 1st quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock valued at $31,025,605,000 after purchasing an additional 9,978,415 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of AbbVie by 1,745.0% during the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares in the last quarter. Capital World Investors raised its holdings in shares of AbbVie by 249.1% in the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock worth $796,357,000 after acquiring an additional 3,120,310 shares during the last quarter. Capital International Investors lifted its position in AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock valued at $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. Finally, Swedbank AB acquired a new position in AbbVie during the 1st quarter valued at about $367,372,000. Institutional investors 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.