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

AbbVie (NYSE:ABBV) had its price objective boosted by Citigroup from $205.00 to $215.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 12.40% from the stock’s current price.

Several other brokerages have also weighed in on ABBV. TD Cowen upped their price objective on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a report on Monday, October 7th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research report on Thursday, December 5th. Raymond James reissued an “outperform” rating and set a $220.00 price target (up from $218.00) on shares of AbbVie in a research report on Monday. Piper Sandler upped their price target on AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler Companies reissued an “overweight” rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Performance

ABBV stock traded up $7.39 during trading on Monday, reaching $191.29. 5,254,278 shares of the company’s stock were exchanged, compared to its average volume of 6,159,915. 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 has a 1-year low of $153.58 and a 1-year high of $207.32. The company’s fifty day moving average price is $176.57 and its 200-day moving average price is $185.13. The firm has a market cap of $338.03 billion, a PE ratio of 79.59, a P/E/G ratio of 1.84 and a beta of 0.58.

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 return on equity of 257.91% and a net margin of 7.59%. During the same period last year, the business posted $2.79 EPS. On average, research analysts expect that AbbVie will post 12.26 EPS for the current fiscal year.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction on 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 $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 is available through this link. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On AbbVie

A number of institutional investors and hedge funds have recently made changes to their positions in the company. AMF Tjanstepension AB acquired a new stake in shares of AbbVie during the third quarter worth $8,777,000. Czech National Bank lifted its holdings in shares of AbbVie by 6.9% in the third quarter. Czech National Bank now owns 359,823 shares of the company’s stock valued at $71,058,000 after purchasing an additional 23,320 shares in the last quarter. GAMMA Investing LLC raised its holdings in AbbVie by 28.6% during the third quarter. GAMMA Investing LLC now owns 36,014 shares of the company’s stock worth $7,112,000 after acquiring an additional 8,014 shares in the last quarter. WealthBridge Capital Management LLC raised its holdings in AbbVie by 8.6% during the third 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 in the last quarter. Finally, Diversified Trust Co raised its stake in AbbVie by 9.1% in the third 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 during the period. 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.