AbbVie (NYSE:ABBV) Stock Price Up 0.3% – What’s Next?

AbbVie Inc. (NYSE:ABBV)’s share price was up 0.3% on Tuesday . The stock traded as high as $190.63 and last traded at $190.92. Approximately 678,474 shares changed hands during trading, a decline of 89% from the average daily volume of 5,951,273 shares. The stock had previously closed at $190.34.

Wall Street Analysts Forecast Growth

ABBV has been the subject of several recent analyst reports. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price for the company. in a research note on Thursday, December 5th. JPMorgan Chase & Co. cut their price objective on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Truist Financial upped their price objective on shares of AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Trading Up 0.8 %

The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The company has a market capitalization of $338.89 billion, a price-to-earnings ratio of 79.86, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The firm has a fifty day moving average price of $177.71 and a 200-day moving average price of $185.81.

AbbVie (NYSE:ABBV) last released its 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 net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the prior year, the business earned $2.79 earnings per share. As a group, equities analysts anticipate that AbbVie Inc. will post 12.32 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Hedge funds have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC acquired a new position in AbbVie in the 3rd quarter worth about $28,000. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the fourth quarter valued at approximately $29,000. Promus Capital LLC bought a new position in AbbVie in the 4th quarter valued at approximately $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in AbbVie during the 4th quarter worth approximately $31,000. Finally, Retirement Wealth Solutions LLC bought a new stake in AbbVie during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Company Profile

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.