AbbVie (NYSE:ABBV) Price Target Raised to $205.00

AbbVie (NYSE:ABBV - Free Report) had its price objective lifted by Citigroup to $205.00 in a report issued on Wednesday,Stock Target Advisor reports. The brokerage currently has a hold rating on the stock.

A number of other research firms have also recently commented on ABBV. The Goldman Sachs Group restated a "neutral" rating and issued a $194.00 target price on shares of AbbVie in a research note on Tuesday, April 8th. BNP Paribas raised AbbVie to a "hold" rating in a report on Thursday, May 8th. Wall Street Zen cut shares of AbbVie from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd. Evercore ISI lifted their price target on shares of AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, Guggenheim upped their price objective on AbbVie from $214.00 to $216.00 and gave the stock a "buy" rating in a research note on Tuesday, April 29th. Eight investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.29.

AbbVie Trading Up 0.3%

Shares of AbbVie stock traded up $0.61 during trading on Wednesday, reaching $192.11. 3,166,802 shares of the stock were exchanged, compared to its average volume of 7,012,658. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The firm has a market cap of $339.34 billion, a price-to-earnings ratio of 80.05, a price-to-earnings-growth ratio of 1.62 and a beta of 0.50. AbbVie has a 1 year low of $163.52 and a 1 year high of $218.66. The stock's fifty day moving average is $183.78 and its 200 day moving average is $187.32.

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

Insider Activity at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the firm'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 value of $12,359,426.56. Following the completion of the sale, the executive vice president now directly owns 53,234 shares of the company's stock, valued at $11,183,398.72. This trade represents a 52.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On AbbVie

Hedge funds have recently added to or reduced their stakes in the company. TD Capital Management LLC lifted its holdings in AbbVie by 82.9% during the 1st quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after buying an additional 58 shares in the last quarter. EnRich Financial Partners LLC increased its position in shares of AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $30,000. Abound Financial LLC purchased a new stake in shares of AbbVie in the first quarter valued at approximately $30,000. Finally, Bradley & Co. Private Wealth Management LLC bought a new position in AbbVie in the fourth quarter worth approximately $31,000. 70.23% of the stock is currently owned by 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.