AbbVie (NYSE:ABBV) Price Target Raised to $215.00

AbbVie (NYSE:ABBV) had its target price raised by Citigroup from $205.00 to $215.00 in a report published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts have also commented on ABBV. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. UBS Group upped their target price on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday. Piper Sandler Companies reiterated an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price objective on AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Barclays lifted their target price on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Price Performance

Shares of ABBV opened at $191.74 on Monday. The company has a market capitalization of $338.82 billion, a P/E ratio of 79.89, a price-to-earnings-growth 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. 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 50 day moving average of $177.01 and a 200 day moving average of $185.38.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 firm posted $2.79 earnings per share. As a group, equities research analysts anticipate that AbbVie will post 12.26 earnings per share for the current fiscal year.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie 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 completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AbbVie

Several institutional investors have recently modified their holdings of the stock. AMF Tjanstepension AB purchased a new stake in AbbVie in the 3rd quarter worth about $8,777,000. Czech National Bank grew its stake in shares of AbbVie by 6.9% during the third 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 during the last quarter. GAMMA Investing LLC raised its holdings in shares of AbbVie by 28.6% in the third quarter. GAMMA Investing LLC now owns 36,014 shares of the company’s stock worth $7,112,000 after buying an additional 8,014 shares during the period. WealthBridge Capital Management LLC lifted its stake in shares of AbbVie by 8.6% during the 3rd quarter. WealthBridge Capital Management LLC now owns 12,256 shares of the company’s stock worth $2,420,000 after acquiring an additional 972 shares during the last quarter. Finally, Diversified Trust Co boosted its stake in shares of AbbVie by 9.1% during the third quarter. Diversified Trust Co now owns 39,966 shares of the company’s stock valued at $7,892,000 after purchasing an additional 3,324 shares during the period. 70.23% of the stock is owned by institutional investors.

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.