AbbVie (NYSE:ABBV) Now Covered by Cantor Fitzgerald

Stock analysts at Cantor Fitzgerald began coverage on shares of AbbVie (NYSE:ABBV - Get Free Report) in a note issued to investors on Tuesday, Marketbeat.com reports. The firm set an "overweight" rating and a $210.00 price target on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 12.93% from the company's current price. Cantor Fitzgerald also issued estimates for AbbVie's FY2025 earnings at $12.33 EPS.

A number of other analysts also recently issued reports on the stock. UBS Group raised their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Guggenheim restated a "buy" rating and issued a $214.00 price target on shares of AbbVie in a research note on Thursday, April 17th. StockNews.com downgraded AbbVie from a "strong-buy" rating to a "buy" rating in a report on Wednesday, April 9th. BMO Capital Markets increased their price objective on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Finally, Citigroup increased their price target on shares of AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.19.

AbbVie Stock Up 3.1 %

ABBV traded up $5.59 during midday trading on Tuesday, reaching $185.96. The company's stock had a trading volume of 10,480,961 shares, compared to its average volume of 6,064,215. AbbVie has a 1 year low of $153.58 and a 1 year high of $218.66. The stock's 50-day moving average is $196.85 and its 200-day moving average is $187.23. The firm has a market capitalization of $328.96 billion, a price-to-earnings ratio of 77.48, a PEG ratio of 1.62 and a beta of 0.55. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 EPS for the quarter, missing analysts' consensus estimates of $2.51 by ($0.05). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. During the same period in the prior year, the company posted $2.31 earnings per share. As a group, research analysts expect that AbbVie will post 12.31 EPS for the current year.

Insider Transactions at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. This represents a 40.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 113,471 shares of company stock worth $23,426,451 in the last three months. Insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On AbbVie

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of AbbVie by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 173,072,078 shares of the company's stock valued at $30,754,908,000 after purchasing an additional 1,424,237 shares in the last quarter. Geode Capital Management LLC lifted its holdings in AbbVie by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 37,144,933 shares of the company's stock worth $6,586,948,000 after buying an additional 983,888 shares during the period. Capital Research Global Investors boosted its position in AbbVie by 2.3% during the 4th quarter. Capital Research Global Investors now owns 33,983,707 shares of the company's stock valued at $6,038,898,000 after acquiring an additional 778,126 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of AbbVie by 15.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after acquiring an additional 3,599,336 shares during the period. Finally, Norges Bank bought a new position in shares of AbbVie in the 4th quarter worth $4,459,385,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.