Several brokerages have updated their recommendations and price targets on shares of AbbVie (NYSE: ABBV) in the last few weeks:
- 4/25/2022 – AbbVie had its price target raised by analysts at BMO Capital Markets from $161.00 to $174.00. They now have an “outperform” rating on the stock.
- 4/12/2022 – AbbVie had its price target raised by analysts at The Goldman Sachs Group, Inc. from $122.00 to $140.00. They now have a “neutral” rating on the stock.
- 4/12/2022 – AbbVie had its price target raised by analysts at Barclays PLC from $150.00 to $174.00. They now have an “equal weight” rating on the stock.
- 4/8/2022 – AbbVie was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
- 4/6/2022 – AbbVie had its price target raised by analysts at Morgan Stanley from $142.00 to $192.00. They now have an “overweight” rating on the stock.
- 3/31/2022 – AbbVie is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.
- 3/17/2022 – AbbVie was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
- 3/1/2022 – AbbVie had its price target raised by analysts at Citigroup Inc. from $155.00 to $170.00.
- 2/28/2022 – AbbVie was downgraded by analysts at UBS Group AG from a “buy” rating to a “neutral” rating. They now have a $147.00 price target on the stock, up previously from $129.00.
Shares of ABBV stock traded down $2.22 during trading on Monday, hitting $156.30. 325,652 shares of the stock traded hands, compared to its average volume of 7,847,505. The firm has a market capitalization of $276.07 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 4.42 and a beta of 0.81. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.79 and a quick ratio of 0.70. The firm’s fifty day moving average price is $156.07 and its 200-day moving average price is $136.07. AbbVie Inc. has a 52-week low of $105.56 and a 52-week high of $175.91.
AbbVie (NYSE:ABBV – Get Rating) 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 $3.29 by $0.02. 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 20.54% and a return on equity of 164.05%. 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 research analysts expect that AbbVie Inc. will post 14.13 earnings per share for the current year.
In other AbbVie news, SVP Carrie C. Strom sold 2,396 shares of the business’s stock in a transaction that occurred on Monday, February 7th. The stock was sold at an average price of $141.17, for a total value of $338,243.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey Ryan Stewart sold 27,690 shares of the business’s stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $159.20, for a total value of $4,408,248.00. The disclosure for this sale can be found here. In the last three months, insiders sold 106,819 shares of company stock worth $16,155,094. 0.08% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Marino Stram & Associates LLC increased its position in shares of AbbVie by 3.5% during the fourth quarter. Marino Stram & Associates LLC now owns 12,718 shares of the company’s stock worth $1,722,000 after acquiring an additional 431 shares during the period. PSI Advisors LLC raised its stake in AbbVie by 9.0% in the third quarter. PSI Advisors LLC now owns 26,001 shares of the company’s stock valued at $2,805,000 after buying an additional 2,140 shares in the last quarter. International Assets Investment Management LLC raised its stake in AbbVie by 237.7% in the fourth quarter. International Assets Investment Management LLC now owns 185,150 shares of the company’s stock valued at $1,696,000 after buying an additional 130,327 shares in the last quarter. Clark Capital Management Group Inc. lifted its holdings in AbbVie by 49.3% during the 3rd quarter. Clark Capital Management Group Inc. now owns 364,231 shares of the company’s stock worth $39,290,000 after buying an additional 120,309 shares during the last quarter. Finally, Edmonds Duncan Registered Investment Advisors LLC acquired a new position in shares of AbbVie during the 4th quarter worth about $223,000. 65.62% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
- Get a free copy of the StockNews.com research report on AbbVie (ABBV)
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