AbbVie (NYSE:ABBV) Shares Up 1.1%

AbbVie Inc. (NYSE:ABBVGet Free Report)’s stock price traded up 1.1% on Tuesday . The stock traded as high as $162.81 and last traded at $162.03. 1,145,237 shares were traded during mid-day trading, a decline of 79% from the average session volume of 5,529,549 shares. The stock had previously closed at $160.19.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ABBV shares. BMO Capital Markets cut their target price on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Cantor Fitzgerald initiated coverage on shares of AbbVie in a report on Friday, May 17th. They issued an “overweight” rating and a $200.00 target price for the company. Guggenheim upped their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, HSBC upgraded AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a research note on Wednesday. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus price target of $178.21.

Check Out Our Latest Report on ABBV

AbbVie Stock Up 2.0 %

The business’s 50 day simple moving average is $164.83 and its 200 day simple moving average is $164.34. The company has a current ratio of 0.94, a quick ratio of 0.83 and a debt-to-equity ratio of 7.93. The firm has a market capitalization of $292.15 billion, a PE ratio of 49.09, a PEG ratio of 2.08 and a beta of 0.60.

AbbVie (NYSE:ABBVGet Free Report) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 EPS for the quarter, topping the consensus estimate of $2.26 by $0.05. The company had revenue of $12.31 billion during the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a return on equity of 179.47% and a net margin of 11.02%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $2.46 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post 11.26 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the transaction, the executive vice president now directly owns 60,941 shares in the company, valued at approximately $10,895,641.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $178.79, for a total value of $10,539,491.71. Following the transaction, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $10,895,641.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas Donoghoe sold 21,082 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $176.30, for a total transaction of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The disclosure for this sale can be found here. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in AbbVie during the 4th quarter valued at about $3,229,888,000. Vanguard Group Inc. lifted its holdings in AbbVie by 6.2% during the first quarter. Vanguard Group Inc. now owns 170,376,746 shares of the company’s stock worth $31,025,605,000 after buying an additional 9,978,415 shares during the period. International Assets Investment Management LLC purchased a new stake in AbbVie during the fourth quarter worth $499,955,000. Capital World Investors boosted its position in AbbVie by 249.1% during the 1st quarter. Capital World Investors now owns 4,373,184 shares of the company’s stock valued at $796,357,000 after acquiring an additional 3,120,310 shares in the last quarter. Finally, Capital International Investors raised its position in shares of AbbVie by 6.9% in the 1st quarter. Capital International Investors now owns 48,098,784 shares of the company’s stock worth $8,758,789,000 after acquiring an additional 3,110,601 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

AbbVie Company Profile

(Get Free Report)

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.

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