AbbVie (NYSE:ABBV) Price Target Increased to $220.00 by Analysts at BMO Capital Markets

AbbVie (NYSE:ABBV) had its target price hoisted by analysts at BMO Capital Markets from $214.00 to $220.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target suggests a potential upside of 15.64% from the company’s previous close.

Several other analysts have also issued reports on ABBV. Truist Financial boosted their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company upped their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of AbbVie in a research report on Monday, August 5th. Barclays increased their target price on AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, UBS Group upped their price target on AbbVie from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.69.

AbbVie Stock Down 0.1 %

AbbVie stock traded down $0.21 during mid-day trading on Thursday, reaching $190.25. The stock had a trading volume of 427,205 shares, compared to its average volume of 5,279,927. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. AbbVie has a fifty-two week low of $135.85 and a fifty-two week high of $199.95. The stock’s 50-day simple moving average is $194.50 and its 200-day simple moving average is $177.63. The firm has a market capitalization of $335.96 billion, a PE ratio of 56.38, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63.

AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. AbbVie’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.91 earnings per share. On average, sell-side analysts forecast that AbbVie will post 10.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Richard A. Gonzalez sold 66,500 shares of AbbVie stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at approximately $83,299,645.48. This trade represents a 0.00 % 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

A number of hedge funds have recently made changes to their positions in ABBV. Fairway Wealth LLC acquired a new stake in AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie during the second quarter worth $27,000. Quest Partners LLC raised its stake in AbbVie by 4,140.0% in the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after buying an additional 207 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new stake in AbbVie in the 1st quarter worth approximately $37,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie during the third quarter worth $39,000. 70.23% of the stock is currently owned by hedge funds and other 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.