AbbVie Inc. (NYSE:ABBV - Get Free Report)'s share price shot up 0.2% during trading on Monday . The company traded as high as $185.00 and last traded at $184.41. 982,249 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 6,227,264 shares. The stock had previously closed at $184.02.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. BNP Paribas upgraded AbbVie to a "hold" rating in a research report on Thursday, May 8th. Morgan Stanley raised their target price on shares of AbbVie from $241.00 to $250.00 and gave the stock an "overweight" rating in a research report on Monday, April 28th. Citigroup reissued a "neutral" rating and issued a $205.00 price target (down from $210.00) on shares of AbbVie in a research note on Wednesday, May 14th. Evercore ISI upped their target price on AbbVie from $204.00 to $205.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Cantor Fitzgerald initiated coverage on AbbVie in a research note on Tuesday, April 22nd. They issued an "overweight" rating and a $210.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.95.
Read Our Latest Report on AbbVie
AbbVie Trading Down 0.3%
The company has a current ratio of 0.66, a quick ratio of 0.55 and a debt-to-equity ratio of 17.94. The stock has a 50-day simple moving average of $189.64 and a 200 day simple moving average of $186.68. The company has a market cap of $320.33 billion, a price-to-earnings ratio of 75.80, a PEG ratio of 1.62 and a beta of 0.56.
AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.06. The company had revenue of $13.34 billion during the quarter, compared to analysts' expectations of $12.91 billion. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
Insider Transactions at AbbVie
In related news, EVP Timothy J. Richmond sold 29,917 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the completion of the transaction, the executive vice president now directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. The trade was a 40.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now owns 11,496 shares in the company, valued at $2,338,401.36. This represents a 62.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,693 shares of company stock worth $22,282,985 in the last ninety days. Insiders own 0.25% of the company's stock.
Institutional Investors Weigh In On AbbVie
A number of institutional investors have recently added to or reduced their stakes in ABBV. Blue Bell Private Wealth Management LLC increased its holdings in AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock valued at $40,000 after buying an additional 52 shares in the last quarter. Steel Grove Capital Advisors LLC increased its stake in AbbVie by 1.7% in the fourth quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock valued at $553,000 after purchasing an additional 52 shares during the last quarter. Peninsula Wealth LLC lifted its holdings in shares of AbbVie by 4.1% during the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock worth $242,000 after acquiring an additional 54 shares during the period. Private Management Group Inc. boosted its holdings in shares of AbbVie by 1.9% in the 1st quarter. Private Management Group Inc. now owns 2,938 shares of the company's stock valued at $616,000 after purchasing an additional 54 shares during the last quarter. Finally, Physicians Financial Services Inc. increased its holdings in shares of AbbVie by 0.5% during the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock worth $2,159,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 70.23% of the company's stock.
About AbbVie
(
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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