AbbVie (NYSE:ABBV) Rating Increased to Hold at BNP Paribas

AbbVie (NYSE:ABBV - Get Free Report) was upgraded by BNP Paribas to a "hold" rating in a research report issued on Thursday,Zacks.com reports.

A number of other research firms also recently weighed in on ABBV. Cantor Fitzgerald initiated coverage on AbbVie in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Raymond James reaffirmed an "outperform" rating and issued a $220.00 target price (up previously from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. BMO Capital Markets boosted their price target on shares of AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $194.00 price objective on shares of AbbVie in a research note on Tuesday, April 8th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $211.41.

AbbVie Stock Down 0.7%

Shares of ABBV stock traded down $1.28 during trading hours on Thursday, hitting $184.30. 7,806,084 shares of the company were exchanged, compared to its average volume of 6,133,352. AbbVie has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The business has a 50 day moving average of $194.23 and a two-hundred day moving average of $187.21. The company has a market capitalization of $326.02 billion, a PE ratio of 76.79, a PEG ratio of 1.62 and a beta of 0.56.

AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The firm had revenue of $13.34 billion during 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 company's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.31 EPS. Analysts anticipate that AbbVie will post 12.31 earnings per share for the current fiscal year.

Insider Buying and Selling at AbbVie

In other news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction dated Monday, March 31st. The shares were 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 owns 53,234 shares of the company's stock, valued at approximately $11,183,398.72. The trade was a 52.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total transaction of $1,143,466.20. Following the completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52% 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 valued at $23,426,451 in the last three months. 0.08% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Abound Financial LLC acquired a new position in AbbVie in the first quarter valued at about $30,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the 4th quarter valued at about $29,000. EnRich Financial Partners LLC raised its position in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after buying an additional 110 shares in the last quarter. Promus Capital LLC bought a new stake in shares of AbbVie during the 4th quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the 1st quarter worth approximately $35,000. 70.23% of the stock is owned by institutional investors.

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.