Truist Financial Increases AbbVie (NYSE:ABBV) Price Target to $217.00

AbbVie (NYSE:ABBV) had its price objective hoisted by Truist Financial from $211.00 to $217.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. UBS Group increased their price objective on AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday. Wolfe Research started coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. Daiwa Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price objective on the stock. in a report on Thursday, December 5th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price for the company in a research note on Friday, November 22nd. Finally, Bank of America restated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Stock Performance

Shares of ABBV opened at $191.74 on Monday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie has a one year low of $153.58 and a one year high of $207.32. The company’s fifty day moving average price is $177.01 and its 200 day moving average price is $185.38. The company has a market capitalization of $338.82 billion, a PE ratio of 79.89, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 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 in the prior year, the business earned $2.79 earnings per share. As a group, analysts expect that AbbVie will post 12.26 earnings per share for the current year.

Insider Activity at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter valued at $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie during the 4th quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in AbbVie during the 4th quarter valued at about $31,000. Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the 4th quarter valued at about $35,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

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.