AbbVie Inc. (NYSE:ABBV) Receives $211.29 Average PT from Analysts

AbbVie Inc. (NYSE:ABBV - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-seven brokerages that are currently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $211.29.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of AbbVie from $241.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, April 28th. BNP Paribas upgraded shares of AbbVie to a "hold" rating in a research note on Thursday, May 8th. Cantor Fitzgerald assumed coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 price objective for the company. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Finally, Evercore ISI increased their price objective on shares of AbbVie from $204.00 to $205.00 and gave the company an "outperform" rating in a research note on Monday, April 28th.

AbbVie Stock Performance

AbbVie stock traded up $0.77 during mid-day trading on Wednesday, reaching $192.27. The company had a trading volume of 5,775,647 shares, compared to its average volume of 6,238,863. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie has a 52 week low of $163.52 and a 52 week high of $218.66. The company has a 50 day moving average of $183.78 and a 200-day moving average of $187.32. The firm has a market cap of $339.63 billion, a price-to-earnings ratio of 80.11, a PEG ratio of 1.62 and a beta of 0.50.

AbbVie (NYSE:ABBV - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. During the same period in the prior year, the firm earned $2.31 EPS. The business's revenue was up 8.4% on a year-over-year basis. On average, sell-side analysts expect that AbbVie will post 12.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now owns 53,234 shares of the company's stock, valued at $11,183,398.72. This represents a 52.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On AbbVie

A number of hedge funds have recently added to or reduced their stakes in ABBV. Tallon Kerry Patrick bought a new position in shares of AbbVie in the 4th quarter valued at about $309,000. Capital & Planning LLC boosted its stake in shares of AbbVie by 1.7% in the 4th quarter. Capital & Planning LLC now owns 6,239 shares of the company's stock valued at $1,109,000 after purchasing an additional 105 shares during the last quarter. LaFleur & Godfrey LLC boosted its stake in shares of AbbVie by 4.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 79,396 shares of the company's stock valued at $14,109,000 after purchasing an additional 3,108 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of AbbVie by 17.4% in the 4th quarter. Brighton Jones LLC now owns 22,912 shares of the company's stock valued at $4,072,000 after purchasing an additional 3,401 shares during the last quarter. Finally, Revolve Wealth Partners LLC boosted its stake in shares of AbbVie by 72.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,279 shares of the company's stock valued at $1,294,000 after purchasing an additional 3,064 shares during the last quarter. 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.