AbbVie (NYSE:ABBV) Given New $205.00 Price Target at Citigroup

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

ABBV has been the topic of several other research reports. Wolfe Research assumed coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target on the stock. UBS Group lifted their price target on shares of AbbVie from $195.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley dropped their target price on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Wells Fargo & Company lifted their price target on AbbVie to $195.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.00.

AbbVie Stock Performance

NYSE:ABBV opened at $174.88 on Tuesday. The firm has a market cap of $309.04 billion, a PE ratio of 60.72, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. AbbVie has a fifty-two week low of $153.58 and a fifty-two week high of $207.32. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The business has a 50 day moving average price of $176.05 and a 200-day moving average price of $184.94.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.95 earnings per share. Equities research analysts predict that AbbVie will post 10.06 earnings per share 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 that occurred 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 transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new position in AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie in the 4th quarter worth approximately $29,000. Retirement Wealth Solutions LLC bought a new position in AbbVie in the 4th quarter worth approximately $35,000. Marquette Asset Management LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. raised its holdings in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after acquiring an additional 100 shares in the last quarter. 70.23% of the stock is currently 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.