AbbVie (NYSE:ABBV) Price Target Raised to $215.00

AbbVie (NYSE:ABBV) had its price objective upped by equities researchers at Citigroup from $205.00 to $215.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 12.40% from the stock’s current price.

A number of other brokerages have also issued reports on ABBV. Daiwa America lowered shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Guggenheim raised their target price on shares of AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research report on Monday. Bank of America reaffirmed a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Finally, TD Cowen raised their target price on shares of AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Up 4.0 %

Shares of NYSE ABBV traded up $7.39 during trading on Monday, hitting $191.29. 5,254,278 shares of the company traded hands, compared to its average volume of 6,159,915. The business’s fifty day moving average is $176.57 and its 200 day moving average is $185.13. AbbVie has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The firm has a market capitalization of $338.03 billion, a price-to-earnings ratio of 79.59, a P/E/G ratio of 1.84 and a beta of 0.58. 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 issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the prior year, the company earned $2.79 earnings per share. Equities research analysts predict that AbbVie will post 12.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AbbVie

Hedge funds and other institutional investors have recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at about $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the 4th quarter valued at about $29,000. Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie during the 4th quarter valued at about $35,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter valued at about $39,000. Finally, Mizuho Securities Co. Ltd. increased its holdings in AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

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.