AbbVie (NYSE:ABBV) Price Target Raised to $200.00

AbbVie (NYSE:ABBV) had its price target hoisted by stock analysts at UBS Group from $195.00 to $200.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential downside of 1.90% from the company’s previous close.

A number of other brokerages have also recently issued reports on ABBV. Wells Fargo & Company upped their price target on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Piper Sandler boosted their target price on AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. William Blair raised AbbVie to a “strong-buy” rating in a research report on Friday, August 30th. TD Cowen boosted their target price on AbbVie from $195.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Sanford C. Bernstein assumed coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AbbVie presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.39.

AbbVie Trading Up 1.2 %

AbbVie stock traded up $2.38 during mid-day trading on Thursday, reaching $203.88. 5,714,433 shares of the company traded hands, compared to its average volume of 5,318,598. The company has a debt-to-equity ratio of 8.51, a current ratio of 0.81 and a quick ratio of 0.71. The firm’s 50 day moving average price is $193.85 and its 200 day moving average price is $178.91. The firm has a market capitalization of $360.03 billion, a price-to-earnings ratio of 60.48, a P/E/G ratio of 2.66 and a beta of 0.63. AbbVie has a 52-week low of $135.85 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last announced its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The firm had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the business posted $2.95 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis. On average, analysts anticipate that AbbVie will post 10.85 earnings per share for the current fiscal year.

Insider Activity at AbbVie

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now directly owns 446,599 shares in the company, valued at approximately $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AbbVie

A number of large investors have recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in AbbVie in the 2nd quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in AbbVie during the 2nd quarter valued at about $27,000. Quest Partners LLC boosted its holdings in AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. Marquette Asset Management LLC acquired a new stake in AbbVie in the 3rd quarter valued at about $39,000. Finally, Burkett Financial Services LLC raised its position in AbbVie by 61.2% in the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after purchasing an additional 82 shares in the last quarter. 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.