AbbVie (NYSE:ABBV) had its price target increased by research analysts at BMO Capital Markets from $134.00 to $153.00 in a research report issued to clients and investors on Wednesday, The Fly reports. BMO Capital Markets’ price target would indicate a potential upside of 11.70% from the company’s previous close.
Other analysts have also issued research reports about the company. Societe Generale upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Tuesday, November 23rd. Wells Fargo & Company assumed coverage on AbbVie in a report on Wednesday, December 8th. They set an “overweight” rating and a $165.00 price target on the stock. Barclays increased their price target on AbbVie from $112.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, November 1st. Mizuho increased their price target on AbbVie from $132.00 to $154.00 and gave the company a “buy” rating in a report on Wednesday, January 5th. Finally, Morgan Stanley increased their target price on AbbVie from $116.00 to $124.00 and gave the stock an “overweight” rating in a research note on Monday, November 1st. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $136.50.
NYSE ABBV opened at $136.97 on Wednesday. The company has a debt-to-equity ratio of 5.45, a quick ratio of 0.91 and a current ratio of 1.01. The company has a market capitalization of $242.05 billion, a P/E ratio of 32.61, a P/E/G ratio of 2.52 and a beta of 0.86. AbbVie has a one year low of $101.81 and a one year high of $138.15. The stock has a 50 day moving average price of $124.68 and a 200-day moving average price of $117.18.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, October 28th. The company reported $3.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.22 by $0.11. AbbVie had a return on equity of 166.05% and a net margin of 13.66%. The company had revenue of $14.34 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the prior year, the firm posted $2.83 EPS. AbbVie’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, equities analysts predict that AbbVie will post 12.69 EPS for the current fiscal year.
In related news, EVP Timothy J. Richmond sold 50,350 shares of the firm’s stock in a transaction dated Monday, December 6th. The stock was sold at an average price of $120.00, for a total transaction of $6,042,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Brian L. Durkin sold 11,790 shares of the firm’s stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $128.51, for a total value of $1,515,132.90. The disclosure for this sale can be found here. Insiders have sold a total of 478,364 shares of company stock worth $59,793,977 in the last three months. Corporate insiders own 0.09% of the company’s stock.
A number of hedge funds have recently modified their holdings of ABBV. Core Alternative Capital acquired a new stake in AbbVie in the third quarter worth about $28,000. Penserra Capital Management LLC acquired a new stake in AbbVie in the second quarter worth about $38,000. Heritage Wealth Management LLC boosted its holdings in AbbVie by 294.3% in the second quarter. Heritage Wealth Management LLC now owns 343 shares of the company’s stock worth $39,000 after acquiring an additional 256 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in AbbVie in the second quarter worth about $39,000. Finally, Bell Investment Advisors Inc acquired a new stake in AbbVie in the third quarter worth about $43,000. 65.86% of the stock is currently owned by institutional investors.
AbbVie Company Profile
AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, comprising thyroid disease and complications associated with cystic fibrosis; pain associated with endometriosis; and other serious health conditions.