AbbVie's (ABBV) "Neutral" Rating Reaffirmed at Citigroup

AbbVie (NYSE:ABBV - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at Citigroup in a note issued to investors on Wednesday, MarketBeat reports. They currently have a $205.00 price target on the stock, down from their prior price target of $210.00. Citigroup's target price would suggest a potential upside of 11.40% from the stock's current price.

ABBV has been the topic of a number of other reports. StockNews.com upgraded shares of AbbVie from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 28th. Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. 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 note on Monday, February 3rd. UBS Group boosted their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald initiated coverage on shares of AbbVie in a research note on Tuesday, April 22nd. They set an "overweight" rating and a $210.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

AbbVie Stock Performance

ABBV traded up $2.34 on Wednesday, reaching $184.02. The company had a trading volume of 6,151,228 shares, compared to its average volume of 6,242,099. AbbVie has a 1 year low of $153.58 and a 1 year high of $218.66. The stock has a market capitalization of $325.53 billion, a PE ratio of 76.68, a P/E/G ratio of 1.62 and a beta of 0.56. 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 stock has a 50-day moving average price of $191.89 and a 200-day moving average price of $187.11.

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

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the transaction, the senior vice president now owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This represents a 62.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 53,234 shares in the company, valued at $11,183,398.72. The trade was a 52.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 over the last quarter. Corporate insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On AbbVie

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Bell Private Wealth Management LLC increased its position in AbbVie by 30.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after purchasing an additional 52 shares during the last quarter. Steel Grove Capital Advisors LLC increased its position in shares of AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after acquiring an additional 52 shares in the last quarter. Peninsula Wealth LLC increased its position in shares of AbbVie by 4.1% in the fourth quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after acquiring an additional 54 shares in the last quarter. Private Management Group Inc. increased its position in shares of AbbVie by 1.9% in the first quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock worth $616,000 after acquiring an additional 54 shares in the last quarter. Finally, Physicians Financial Services Inc. increased its position in shares of AbbVie by 0.5% in the fourth quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock worth $2,159,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds 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.