AbbVie (NYSE:ABBV – Get Free Report) had its price objective upped by analysts at Cantor Fitzgerald from $290.00 to $325.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price would suggest a potential upside of 10.24% from the company’s previous close.
ABBV has been the topic of a number of other research reports. Weiss Ratings raised shares of AbbVie from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $280.00 price target on shares of AbbVie in a research report on Tuesday, October 13th. BNP Paribas Exane increased their target price on AbbVie from $218.00 to $247.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Citigroup upped their price objective on AbbVie from $230.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of AbbVie from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $284.96.
View Our Latest Stock Analysis on ABBV
AbbVie Stock Down 0.0%
ABBV opened at $294.80 on Monday. The business’s fifty day simple moving average is $269.35 and its 200 day simple moving average is $237.23. The stock has a market cap of $520.85 billion, a PE ratio of 50.74, a P/E/G ratio of 1.35 and a beta of 0.24. AbbVie has a 52 week low of $190.75 and a 52 week high of $298.74.
AbbVie (NYSE:ABBV – Get Free Report) last issued its earnings results on Friday, October 30th. The company reported $3.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.09. AbbVie had a negative return on equity of 435.41% and a net margin of 15.67%. The business had revenue of $17.40 billion during the quarter, compared to analyst estimates of $17.32 billion. During the same quarter in the prior year, the firm earned $1.86 earnings per share. AbbVie’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie will post 13.92 earnings per share for the current year.
Insiders Place Their Bets
In other AbbVie news, EVP Nicholas Donoghoe sold 32,710 shares of the 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 sale, the executive vice president owned 74,430 shares in the company, valued at $18,607,500. This trade represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.
Hedge Funds Weigh In On AbbVie
A number of hedge funds and other institutional investors have recently modified their holdings of ABBV. Pathway Financial Advisers LLC lifted its holdings in shares of AbbVie by 2.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 35,498 shares of the company’s stock valued at $9,286,000 after purchasing an additional 912 shares during the last quarter. Strategent Financial LLC acquired a new stake in AbbVie during the third quarter worth about $205,000. Guardian Wealth Management Inc. raised its position in shares of AbbVie by 0.9% in the third quarter. Guardian Wealth Management Inc. now owns 29,305 shares of the company’s stock worth $7,666,000 after acquiring an additional 265 shares during the period. DeLarme Wealth Management Inc. acquired a new stake in AbbVie in the third quarter valued at approximately $270,000. Finally, Clear Point Advisors Inc. acquired a new position in AbbVie during the third quarter worth $234,000. 70.23% of the stock is currently owned by institutional investors.
About AbbVie
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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