Cantor Fitzgerald Begins Coverage on AbbVie (NYSE:ABBV)

Cantor Fitzgerald started coverage on shares of AbbVie (NYSE:ABBV - Free Report) in a research note issued to investors on Friday morning, MarketBeat.com reports. The firm issued an overweight rating and a $200.00 price target on the stock.

ABBV has been the topic of several other research reports. Barclays dropped their price target on shares of AbbVie from $195.00 to $187.00 and set an overweight rating on the stock in a research note on Monday, April 29th. BMO Capital Markets reduced their price target on AbbVie from $195.00 to $180.00 and set an outperform rating for the company in a research report on Monday, April 29th. Guggenheim increased their price objective on AbbVie from $188.00 to $190.00 and gave the company a buy rating in a report on Friday, March 22nd. William Blair upgraded AbbVie from a market perform rating to an outperform rating in a report on Monday, January 29th. Finally, Truist Financial upped their target price on AbbVie from $180.00 to $195.00 and gave the stock a buy rating in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has a consensus rating of Moderate Buy and an average target price of $176.14.

AbbVie Stock Up 1.3 %

Shares of NYSE:ABBV traded up $2.07 during midday trading on Friday, hitting $166.42. 4,951,883 shares of the stock were exchanged, compared to its average volume of 5,558,989. The company has a market capitalization of $293.88 billion, a PE ratio of 49.38, a P/E/G ratio of 2.07 and a beta of 0.61. AbbVie has a 52-week low of $130.96 and a 52-week high of $182.89. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The business's fifty day simple moving average is $170.13 and its two-hundred day simple moving average is $162.24.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to the consensus estimate of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The business's quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business earned $2.46 EPS. As a group, research analysts predict that AbbVie will post 11.28 earnings per share for the current fiscal year.

Insider Activity

In other AbbVie news, CEO Richard A. Gonzalez sold 138,616 shares of the firm's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total value of $24,572,458.32. Following the completion of the sale, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the sale, the chief executive officer now directly owns 519,099 shares in the company, valued at approximately $92,020,679.73. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the completion of the transaction, the executive vice president now directly owns 55,903 shares of the company's stock, valued at approximately $9,855,698.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 383,324 shares of company stock valued at $67,780,003. Insiders own 0.25% of the company's stock.

Institutional Trading of AbbVie

A number of large investors have recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie during the 4th quarter valued at about $26,000. Able Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter worth approximately $33,000. IFS Advisors LLC bought a new stake in AbbVie during the 1st quarter worth approximately $36,000. Ables Iannone Moore & Associates Inc. acquired a new stake in AbbVie during the 4th quarter valued at $37,000. Finally, Redmont Wealth Advisors LLC bought a new position in AbbVie in the 1st quarter valued at $37,000. 70.23% of the stock is currently 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.