AbbVie (NYSE:ABBV) Stock Price Expected to Rise, UBS Group Analyst Says

AbbVie (NYSE:ABBV) had its price objective boosted by UBS Group from $181.00 to $190.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also weighed in on the company. Barclays increased their price objective on AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Bank of America reiterated a “neutral” rating and set a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on AbbVie in a research note on Thursday, October 17th. They issued a “market perform” rating and a $203.00 price objective on the stock. BMO Capital Markets increased their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.35.

AbbVie Trading Up 0.9 %

NYSE ABBV opened at $191.74 on Monday. The business’s fifty day moving average is $177.01 and its 200-day moving average is $185.38. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market capitalization of $338.82 billion, a price-to-earnings ratio of 79.89, a PEG ratio of 1.84 and a beta of 0.58. AbbVie has a one year low of $153.58 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same quarter in the prior year, the business posted $2.79 earnings per share. Equities research analysts predict that AbbVie will post 12.26 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Several institutional investors and hedge funds have recently made changes to their positions in ABBV. Groupama Asset Managment lifted its stake in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new stake in AbbVie in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at approximately $31,000. Finally, Retirement Wealth Solutions LLC bought a new position in shares of AbbVie in the fourth quarter worth approximately $35,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Company Profile

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.