AbbVie (NYSE:ABBV) Price Target Raised to $217.00

AbbVie (NYSE:ABBV) had its price objective boosted by investment analysts at Truist Financial from $211.00 to $217.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 14.53% from the company’s current price.

A number of other equities analysts also recently commented on ABBV. Daiwa Capital Markets downgraded AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective for the company. in a research report on Thursday, December 5th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective on the stock in a research report on Friday, November 22nd. Bank of America reaffirmed a “neutral” rating and set a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. JPMorgan Chase & Co. dropped their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their price target on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and an average price target of $207.85.

AbbVie Stock Up 3.0 %

Shares of NYSE ABBV traded up $5.57 during midday trading on Monday, hitting $189.47. The company’s stock had a trading volume of 4,306,041 shares, compared to its average volume of 6,123,359. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a market capitalization of $334.81 billion, a price-to-earnings ratio of 78.99, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The business’s fifty day simple moving average is $176.57 and its two-hundred day simple moving average is $185.13. AbbVie has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the company posted $2.79 earnings per share. On average, equities analysts predict that AbbVie will post 12.26 EPS for the current year.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp lifted its stake in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock valued at $15,614,329,000 after purchasing an additional 1,267,685 shares during the period. FMR LLC increased its holdings in AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company’s stock valued at $2,691,732,000 after buying an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AbbVie by 6.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock worth $2,009,542,000 after acquiring an additional 582,953 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of AbbVie by 4.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock worth $1,842,642,000 after acquiring an additional 373,802 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in shares of AbbVie by 1,745.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock worth $933,698,000 after acquiring an additional 4,471,806 shares during the period. 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.