AbbVie (NYSE:ABBV) Price Target Raised to $214.00

AbbVie (NYSE:ABBV) had its price objective upped by Guggenheim from $212.00 to $214.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently commented on ABBV. Truist Financial decreased their target price on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Citigroup decreased their target price on AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Finally, Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target on the stock. in a research report on Thursday, December 5th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

NYSE ABBV opened at $191.74 on Monday. AbbVie has a 1 year low of $153.58 and a 1 year high of $207.32. The business’s fifty day moving average is $177.01 and its two-hundred day moving average is $185.38. The stock has a market capitalization of $338.82 billion, a P/E ratio of 79.89, 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 announced its 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 return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the business earned $2.79 EPS. On average, research analysts forecast that AbbVie will post 12.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in shares of AbbVie by 1.6% in the third quarter. State Street Corp now owns 79,067,935 shares of the company’s stock worth $15,614,329,000 after buying an additional 1,267,685 shares during the last quarter. FMR LLC lifted its position in AbbVie by 3.9% during the 3rd quarter. FMR LLC now owns 13,630,404 shares of the company’s stock worth $2,691,732,000 after acquiring an additional 511,470 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in AbbVie by 6.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company’s stock valued at $2,009,542,000 after acquiring an additional 582,953 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in AbbVie by 4.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company’s stock valued at $1,842,642,000 after acquiring an additional 373,802 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of AbbVie by 1,745.0% in the third quarter. International Assets Investment Management LLC now owns 4,728,063 shares of the company’s stock valued at $933,698,000 after purchasing an additional 4,471,806 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors and hedge funds.

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.