AbbVie (NYSE:ABBV) Upgraded at Erste Group Bank

Erste Group Bank upgraded shares of AbbVie (NYSE:ABBV) from a hold rating to a buy rating in a research note published on Wednesday morning, Marketbeat Ratings reports.

ABBV has been the subject of several other reports. Wells Fargo & Company boosted their price target on AbbVie from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Morgan Stanley reaffirmed an “overweight” rating and issued a $296.00 price objective on shares of AbbVie in a research report on Monday. Cantor Fitzgerald increased their target price on AbbVie from $265.00 to $285.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. HSBC reissued a “buy” rating and issued a $300.00 price target on shares of AbbVie in a research note on Monday, July 6th. Finally, Guggenheim upped their price objective on shares of AbbVie from $261.00 to $288.00 and gave the company a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.70.

AbbVie Trading Up 0.8%

NYSE:ABBV opened at $245.82 on Wednesday. AbbVie has a 12-month low of $190.75 and a 12-month high of $267.47. The firm has a market cap of $434.31 billion, a price-to-earnings ratio of 69.44, a price-to-earnings-growth ratio of 0.81 and a beta of 0.30. The company’s 50-day moving average is $241.96 and its two-hundred day moving average is $224.96.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 31st. The company reported $3.65 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.04. The business had revenue of $16.99 billion during the quarter, compared to the consensus estimate of $16.80 billion. AbbVie had a net margin of 9.80% and a negative return on equity of 422.07%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.97 earnings per share. AbbVie has set its Q3 2026 guidance at 3.840-3.880 EPS. On average, equities research analysts forecast that AbbVie will post 14.06 earnings per share for the current fiscal year.

AbbVie Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be issued a $1.73 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.92 dividend on an annualized basis and a yield of 2.8%. AbbVie’s dividend payout ratio (DPR) is presently 195.48%.

Hedge Funds Weigh In On AbbVie

A number of large investors have recently modified their holdings of the company. Litman Gregory Wealth Management LLC acquired a new position in AbbVie during the fourth quarter valued at approximately $28,000. Imprint Wealth LLC raised its stake in shares of AbbVie by 56.2% in the 4th quarter. Imprint Wealth LLC now owns 125 shares of the company’s stock valued at $29,000 after acquiring an additional 45 shares during the period. Legacy Wealth Managment LLC ID raised its stake in shares of AbbVie by 115.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the company’s stock valued at $31,000 after acquiring an additional 73 shares during the period. IFC & Insurance Marketing Inc. acquired a new position in shares of AbbVie during the 4th quarter valued at $31,000. Finally, WestEnd Advisors LLC lifted its holdings in shares of AbbVie by 160.4% during the 4th quarter. WestEnd Advisors LLC now owns 138 shares of the company’s stock valued at $32,000 after acquiring an additional 85 shares in the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Company Profile

AbbVie is a global, research-driven biopharmaceutical company that was created as a spin-off from Abbott Laboratories in 2013 and is headquartered in North Chicago, Illinois. The company focuses on discovering, developing and commercializing therapies for complex and often chronic medical conditions. Its operations span research and development, manufacturing, regulatory affairs and commercialization, with an emphasis on bringing specialty medicines to market across multiple therapeutic areas.

AbbVie’s product portfolio and pipeline cover several major therapeutic categories, including immunology, oncology, neuroscience, virology and women’s health.