AbbVie (NYSE:ABBV) Earns “Buy” Rating from Guggenheim

AbbVie (NYSE:ABBV)‘s stock had its “buy” rating reissued by stock analysts at Guggenheim in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $214.00 price target on the stock. Guggenheim’s target price would suggest a potential upside of 23.61% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Raymond James reissued an “outperform” rating and issued a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday, February 3rd. BMO Capital Markets increased their price target on shares of AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Truist Financial raised their price objective on AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. StockNews.com lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 9th. Finally, UBS Group increased their price target on shares of AbbVie from $181.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $210.71.

AbbVie Stock Performance

Shares of NYSE ABBV traded up $1.45 during trading hours on Thursday, reaching $173.13. 2,042,412 shares of the stock were exchanged, compared to its average volume of 5,965,746. The firm has a market capitalization of $306.26 billion, a price-to-earnings ratio of 72.18, a P/E/G ratio of 1.62 and a beta of 0.55. AbbVie has a 52 week low of $153.58 and a 52 week high of $218.66. The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock’s fifty day simple moving average is $199.21 and its 200 day simple moving average is $188.16.

AbbVie (NYSE:ABBV) last announced 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 296.28%. During the same period in the prior year, the business posted $2.79 EPS. Sell-side analysts predict that AbbVie will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 18,944 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at approximately $2,338,401.36. This represents a 62.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 58,832 shares of AbbVie stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction of $12,359,426.56. Following the sale, the executive vice president now directly owns 53,234 shares in the company, valued at approximately $11,183,398.72. The trade was a 52.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 in the last 90 days. Insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

A number of large investors have recently bought and sold shares of ABBV. Fiduciary Advisors Inc. acquired a new position in shares of AbbVie in the 4th quarter valued at about $29,000. EnRich Financial Partners LLC grew its holdings in shares of AbbVie by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 166 shares of the company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. Promus Capital LLC acquired a new stake in AbbVie during the 4th quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in AbbVie in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors 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.