AbbVie (NYSE:ABBV - Get Free Report) had its price target reduced by equities researchers at Barclays from $195.00 to $187.00 in a research note issued on Monday, Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 15.78% from the stock's previous close.
A number of other equities analysts have also weighed in on the stock. Guggenheim upped their target price on shares of AbbVie from $188.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. BMO Capital Markets dropped their target price on shares of AbbVie from $195.00 to $180.00 and set an "outperform" rating on the stock in a report on Monday. Raymond James upped their target price on shares of AbbVie from $181.00 to $189.00 and gave the company an "outperform" rating in a report on Monday, February 5th. Truist Financial increased their price target on shares of AbbVie from $180.00 to $195.00 and gave the company a "buy" rating in a report on Tuesday, February 6th. Finally, William Blair upgraded shares of AbbVie from a "market perform" rating to an "outperform" rating in a research report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $174.31.
View Our Latest Stock Report on AbbVie
AbbVie Trading Up 1.2 %
ABBV stock traded up $1.90 during trading on Monday, hitting $161.52. The company had a trading volume of 6,225,981 shares, compared to its average volume of 5,665,017. The firm has a 50-day moving average price of $174.27 and a 200-day moving average price of $161.00. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. AbbVie has a 12 month low of $130.96 and a 12 month high of $182.89. The stock has a market cap of $286.00 billion, a price-to-earnings ratio of 47.93, a PEG ratio of 2.03 and a beta of 0.58.
AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings results on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 165.18%. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. During the same quarter in the previous year, the business earned $2.46 EPS. The firm's revenue was up .7% on a year-over-year basis. As a group, analysts predict that AbbVie will post 11.19 earnings per share for the current year.
Insider Buying and Selling at AbbVie
In other news, CEO Richard A. Gonzalez sold 138,616 shares of AbbVie stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $177.27, for a total transaction of $24,572,458.32. Following the transaction, the chief executive officer now owns 519,099 shares in the company, valued at approximately $92,020,679.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Richard A. Gonzalez sold 138,616 shares of the 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 owns 519,099 shares of the company's stock, valued at $92,020,679.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $176.65, for a total transaction of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,233,546.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 383,324 shares of company stock worth $67,780,003. Corporate insiders own 0.25% of the company's stock.
Hedge Funds Weigh In On AbbVie
Several hedge funds have recently added to or reduced their stakes in the stock. Lokken Investment Group LLC raised its position in shares of AbbVie by 3.6% during the 4th quarter. Lokken Investment Group LLC now owns 1,666 shares of the company's stock valued at $258,000 after acquiring an additional 58 shares in the last quarter. Arcadia Investment Management Corp MI lifted its holdings in shares of AbbVie by 0.6% during the first quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company's stock valued at $1,706,000 after purchasing an additional 59 shares during the last quarter. Aspen Wealth Strategies LLC increased its position in AbbVie by 0.5% in the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company's stock worth $1,776,000 after purchasing an additional 61 shares during the last quarter. Marks Group Wealth Management Inc increased its holdings in shares of AbbVie by 2.9% during the 4th quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company's stock valued at $349,000 after acquiring an additional 63 shares during the last quarter. Finally, Spinnaker Investment Group LLC grew its holdings in AbbVie by 1.6% in the 1st quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company's stock valued at $741,000 after buying an additional 64 shares during the last quarter. 70.23% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Company Profile
(
Get Free Report)
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.
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