AbbVie (NYSE:ABBV) Shares Up 1.2% – Should You Buy?

AbbVie Inc. (NYSE:ABBV) shot up 1.2% on Wednesday . The company traded as high as $193.38 and last traded at $192.32. 1,649,645 shares were traded during mid-day trading, a decline of 73% from the average session volume of 6,220,386 shares. The stock had previously closed at $189.95.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Raymond James reiterated an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a report on Monday. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Truist Financial increased their target price on AbbVie from $211.00 to $217.00 and gave the company a “buy” rating in a research note on Monday. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 5th. Finally, Piper Sandler increased their price objective on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Up 0.8 %

The firm has a market cap of $338.41 billion, a PE ratio of 79.86, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58. The business has a 50-day moving average price of $177.01 and a two-hundred day moving average price of $185.38. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results 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 net margin of 7.59% and a return on equity of 257.91%. During the same period last year, the company earned $2.79 earnings per share. On average, equities research analysts expect that AbbVie Inc. will post 12.26 EPS for the current year.

Insider Activity at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’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 transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AbbVie

Several large investors have recently made changes to their positions in the company. GGM Financials LLC boosted its position in shares of AbbVie by 0.7% during the 3rd quarter. GGM Financials LLC now owns 6,895 shares of the company’s stock valued at $1,362,000 after purchasing an additional 50 shares in the last quarter. Pine Haven Investment Counsel Inc lifted its stake in shares of AbbVie by 0.3% in the third quarter. Pine Haven Investment Counsel Inc now owns 18,102 shares of the company’s stock valued at $3,575,000 after buying an additional 52 shares in the last quarter. Dillon & Associates Inc. grew its stake in shares of AbbVie by 0.8% in the 3rd quarter. Dillon & Associates Inc. now owns 6,914 shares of the company’s stock worth $1,362,000 after acquiring an additional 52 shares in the last quarter. Sunflower Bank N.A. grew its holdings in shares of AbbVie by 0.4% in the third quarter. Sunflower Bank N.A. now owns 13,723 shares of the company’s stock valued at $2,710,000 after acquiring an additional 53 shares in the last quarter. Finally, Professional Financial Advisors LLC increased its stake in shares of AbbVie by 3.4% during the 3rd quarter. Professional Financial Advisors LLC now owns 1,638 shares of the company’s stock worth $323,000 after purchasing an additional 54 shares during the last quarter. 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.