AbbVie (NYSE:ABBV) had its price target raised by equities researchers at Mizuho from $154.00 to $166.00 in a report released on Friday, The Fly reports. Mizuho’s price objective would indicate a potential upside of 17.96% from the company’s previous close.
Several other analysts have also commented on ABBV. Societe Generale raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Tuesday, November 23rd. Piper Sandler lifted their price target on shares of AbbVie from $129.00 to $160.00 in a research report on Monday, January 3rd. Wells Fargo & Company started coverage on shares of AbbVie in a research report on Wednesday, December 8th. They set an “overweight” rating and a $165.00 price target on the stock. Barclays lifted their price target on shares of AbbVie from $133.00 to $150.00 and gave the company an “equal weight” rating in a research report on Thursday. Finally, Bank of America boosted their target price on AbbVie from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $146.31.
NYSE:ABBV opened at $140.73 on Friday. The company’s 50-day moving average is $131.01 and its two-hundred day moving average is $119.51. AbbVie has a 1-year low of $102.05 and a 1-year high of $141.71. The company has a debt-to-equity ratio of 5.45, a current ratio of 1.01 and a quick ratio of 0.91. The firm has a market capitalization of $248.69 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 2.02 and a beta of 0.82.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, February 2nd. The company reported $3.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.03. The firm had revenue of $14.89 billion for the quarter, compared to analyst estimates of $14.96 billion. AbbVie had a net margin of 13.66% and a return on equity of 166.05%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.92 EPS. As a group, equities analysts anticipate that AbbVie will post 12.67 earnings per share for the current fiscal year.
In related news, EVP Timothy J. Richmond sold 50,350 shares of the business’s stock in a transaction on Monday, December 6th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Durkin sold 11,790 shares of the business’s stock in a transaction on Monday, December 20th. The stock was sold at an average price of $128.51, for a total transaction of $1,515,132.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 426,520 shares of company stock valued at $53,760,372. Insiders own 0.09% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Steward Financial Group LLC acquired a new position in shares of AbbVie during the fourth quarter worth $30,000. Core Alternative Capital acquired a new position in shares of AbbVie during the third quarter worth $28,000. Maryland Capital Advisors Inc. acquired a new position in shares of AbbVie during the fourth quarter worth $41,000. Penserra Capital Management LLC purchased a new stake in AbbVie in the second quarter valued at $38,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in AbbVie in the second quarter valued at $39,000. Hedge funds and other institutional investors own 65.36% of the company’s stock.
About AbbVie
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.