BMO Capital Markets Increases AbbVie (NYSE:ABBV) Price Target to $215.00

AbbVie (NYSE:ABBV) had its target price increased by BMO Capital Markets from $208.00 to $215.00 in a report issued on Monday, MarketBeat.com reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. Bank of America reiterated a “neutral” rating and issued a $191.00 price objective on shares of AbbVie in a research report on Tuesday, December 10th. UBS Group lifted their target price on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wolfe Research assumed coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Argus raised AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Daiwa Capital Markets downgraded 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. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

Shares of NYSE:ABBV opened at $191.74 on Monday. AbbVie has a one year low of $153.58 and a one year high of $207.32. The stock has a market capitalization of $338.82 billion, a price-to-earnings ratio of 79.89, a PEG ratio of 1.84 and a beta of 0.58. The company has a 50-day simple moving average of $177.01 and a 200-day simple moving average of $185.38. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 period in the previous year, the company earned $2.79 EPS. On average, analysts predict that AbbVie will post 12.26 EPS for the current year.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s 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 owns 6,983 shares of the company’s stock, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AbbVie

A number of institutional investors have recently made changes to their positions in ABBV. SRS Capital Advisors Inc. boosted its stake in shares of AbbVie by 35.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 10,145 shares of the company’s stock valued at $1,803,000 after acquiring an additional 2,675 shares during the last quarter. Asahi Life Asset Management CO. LTD. lifted its holdings in AbbVie by 26.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 5,290 shares of the company’s stock valued at $940,000 after purchasing an additional 1,090 shares in the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of AbbVie during the 4th quarter worth about $39,000. Kohmann Bosshard Financial Services LLC grew its holdings in shares of AbbVie by 5.1% during the fourth quarter. Kohmann Bosshard Financial Services LLC now owns 2,509 shares of the company’s stock worth $446,000 after buying an additional 122 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of AbbVie by 18.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 22,718 shares of the company’s stock valued at $4,003,000 after buying an additional 3,489 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

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.