AbbVie (NYSE:ABBV – Get Free Report) had its target price upped by equities researchers at Canaccord Genuity Group from $290.00 to $338.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price suggests a potential upside of 14.65% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Leerink Partners raised their target price on shares of AbbVie from $245.00 to $279.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Rothschild & Co Redburn increased their price target on AbbVie from $284.00 to $285.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. UBS Group restated a “neutral” rating and issued a $295.00 price target on shares of AbbVie in a research note on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $280.00 price objective on shares of AbbVie in a report on Tuesday, October 13th. Finally, Weiss Ratings upgraded AbbVie from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, AbbVie currently has a consensus rating of “Moderate Buy” and an average price target of $284.96.
Get Our Latest Stock Report on AbbVie
AbbVie Stock Performance
NYSE ABBV opened at $294.80 on Monday. AbbVie has a one year low of $190.75 and a one year high of $298.74. The stock has a 50-day moving average of $269.35 and a 200 day moving average of $237.23. The company has a market capitalization of $520.85 billion, a price-to-earnings ratio of 50.74, a PEG ratio of 1.35 and a beta of 0.24.
AbbVie (NYSE:ABBV – Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The company reported $3.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.73 by $0.09. The firm had revenue of $17.40 billion for the quarter, compared to the consensus estimate of $17.32 billion. AbbVie had a net margin of 15.67% and a negative return on equity of 435.41%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 EPS. On average, equities analysts predict that AbbVie will post 13.92 earnings per share for the current fiscal year.
Insider Activity
In other news, EVP Nicholas Donoghoe sold 32,710 shares of the company’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $250.00, for a total value of $8,177,500.00. Following the completion of the sale, the executive vice president directly owned 74,430 shares in the company, valued at $18,607,500. This represents a 30.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.06% of the stock is currently owned by insiders.
Institutional Trading of AbbVie
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Burk Holdings LLC bought a new position in shares of AbbVie during the 2nd quarter valued at approximately $30,000. Marquette Asset Management LLC raised its stake in AbbVie by 52.2% during the 2nd quarter. Marquette Asset Management LLC now owns 140 shares of the company’s stock worth $35,000 after acquiring an additional 48 shares during the period. Principia Wealth Advisory LLC lifted its holdings in AbbVie by 38.9% during the second quarter. Principia Wealth Advisory LLC now owns 157 shares of the company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. IMG Wealth Management Inc. lifted its holdings in AbbVie by 3,060.0% during the second quarter. IMG Wealth Management Inc. now owns 158 shares of the company’s stock valued at $40,000 after purchasing an additional 153 shares in the last quarter. Finally, Tacita Capital Inc purchased a new position in AbbVie during the second quarter valued at approximately $42,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (NYSE: ABBV) is a global biopharmaceutical company that discovers, develops and commercializes medicines and other healthcare products. Its portfolio focuses on immunology, oncology, neuroscience, aesthetics and eye care, serving patients and healthcare providers in markets around the world.
The company’s key products include immunology medicines such as Skyrizi and Rinvoq; neuroscience treatments including Vraylar, Ubrelvy and Qulipta; and oncology products such as Imbruvica and Venclexta.
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