AbbVie (NYSE:ABBV) Given New $215.00 Price Target at BMO Capital Markets

AbbVie (NYSE:ABBV) had its target price increased by investment analysts at BMO Capital Markets from $208.00 to $215.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 16.91% from the stock’s current price.

Several other analysts have also commented on the company. Guggenheim increased their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Morgan Stanley decreased their price objective on AbbVie from $231.00 to $224.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Wells Fargo & Company increased their price objective on AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, UBS Group increased their price objective on AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.35.

AbbVie Stock Up 4.7 %

AbbVie stock opened at $183.90 on Monday. The business has a fifty day moving average of $176.57 and a two-hundred day moving average of $185.13. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64. The firm has a market cap of $324.98 billion, a P/E ratio of 76.63, a P/E/G ratio of 1.84 and a beta of 0.58. AbbVie has a twelve month low of $153.58 and a twelve month high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share 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 period in the previous year, the business posted $2.79 EPS. On average, analysts forecast that AbbVie will post 12.26 earnings per share for the current fiscal year.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction dated 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 $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

Hedge funds have recently modified their holdings of the company. AMF Tjanstepension AB purchased a new position in AbbVie in the 3rd quarter valued at about $8,777,000. Czech National Bank lifted its stake in AbbVie by 6.9% in the 3rd quarter. Czech National Bank now owns 359,823 shares of the company’s stock valued at $71,058,000 after buying an additional 23,320 shares in the last quarter. GAMMA Investing LLC lifted its stake in AbbVie by 28.6% in the 3rd quarter. GAMMA Investing LLC now owns 36,014 shares of the company’s stock valued at $7,112,000 after buying an additional 8,014 shares in the last quarter. WealthBridge Capital Management LLC lifted its stake in AbbVie by 8.6% in the 3rd quarter. WealthBridge Capital Management LLC now owns 12,256 shares of the company’s stock valued at $2,420,000 after buying an additional 972 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in AbbVie by 9.1% in the 3rd quarter. Diversified Trust Co now owns 39,966 shares of the company’s stock valued at $7,892,000 after buying an additional 3,324 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.