AbbVie (NYSE:ABBV) Earns Outperform Rating from Raymond James

AbbVie (NYSE:ABBV)‘s stock had its “outperform” rating reaffirmed by equities researchers at Raymond James in a report issued on Monday,Benzinga reports. They presently have a $220.00 target price on the stock, up from their prior target price of $218.00. Raymond James’ price objective would suggest a potential upside of 19.63% from the company’s current price.

Other equities analysts have also issued reports about the stock. Barclays upped their price objective on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Leerink Partnrs raised AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target on the stock in a research report on Friday, November 22nd. Wolfe Research began coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective for the company. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $206.55.

AbbVie Price Performance

NYSE:ABBV opened at $183.90 on Monday. AbbVie has a 52 week low of $153.58 and a 52 week high of $207.32. The stock’s fifty day moving average is $176.57 and its two-hundred day moving average is $185.13. The company has a market capitalization of $324.98 billion, a P/E ratio of 76.63, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

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

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC purchased a new position in AbbVie during the 3rd quarter worth $999,000. Saturna Capital Corp increased its position in AbbVie by 486.1% in the 3rd quarter. Saturna Capital Corp now owns 676,176 shares of the company’s stock valued at $133,531,000 after acquiring an additional 560,808 shares during the period. Everence Capital Management Inc. raised its stake in AbbVie by 41.3% during the 4th quarter. Everence Capital Management Inc. now owns 53,171 shares of the company’s stock valued at $9,448,000 after acquiring an additional 15,550 shares during the last quarter. GAMMA Investing LLC lifted its position in AbbVie by 9.5% during the 4th quarter. GAMMA Investing LLC now owns 39,453 shares of the company’s stock worth $7,011,000 after acquiring an additional 3,439 shares during the period. Finally, Avior Wealth Management LLC grew its stake in shares of AbbVie by 23.5% in the 3rd quarter. Avior Wealth Management LLC now owns 56,556 shares of the company’s stock valued at $11,169,000 after purchasing an additional 10,768 shares during the last quarter. Hedge funds and other 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.