AbbVie Inc. (NYSE:ABBV - Get Free Report) shot up 0.3% on Friday . The stock traded as high as $182.74 and last traded at $182.23. 1,651,467 shares changed hands during trading, a decline of 73% from the average session volume of 6,218,535 shares. The stock had previously closed at $181.68.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on ABBV. Guggenheim boosted their target price on AbbVie from $214.00 to $216.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Truist Financial boosted their target price on AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Wells Fargo & Company boosted their target price on AbbVie from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, March 5th. Bank of America boosted their target price on AbbVie from $200.00 to $223.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Finally, Citigroup reissued a "neutral" rating and set a $205.00 target price (down previously from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $210.95.
View Our Latest Stock Analysis on ABBV
AbbVie Stock Down 0.5%
The company has a debt-to-equity ratio of 17.94, a quick ratio of 0.55 and a current ratio of 0.66. The stock has a market capitalization of $326.34 billion, a PE ratio of 76.98, a PEG ratio of 1.62 and a beta of 0.56. The business has a 50 day moving average of $190.77 and a two-hundred day moving average of $186.73.
AbbVie (NYSE:ABBV - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. The company had revenue of $13.34 billion for the quarter, compared to analyst estimates of $12.91 billion. During the same period in the prior year, the company posted $2.31 EPS. The firm's quarterly revenue was up 8.4% compared to the same quarter last year. Analysts predict that AbbVie Inc. will post 12.31 EPS for the current year.
Insider Activity at AbbVie
In other news, EVP Timothy J. Richmond sold 29,917 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now directly owns 44,284 shares of the company's stock, valued at approximately $8,985,223.60. This represents a 40.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Perry C. Siatis sold 5,778 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the completion of the transaction, the executive vice president now directly owns 22,381 shares in the company, valued at $4,429,199.90. This represents a 20.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock valued at $23,426,451 in the last ninety days. Corporate insiders own 0.25% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of ABBV. TD Capital Management LLC increased its holdings in shares of AbbVie by 82.9% in the first quarter. TD Capital Management LLC now owns 128 shares of the company's stock valued at $27,000 after purchasing an additional 58 shares during the period. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the fourth quarter worth about $29,000. EnRich Financial Partners LLC grew its holdings in AbbVie by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock worth $29,000 after acquiring an additional 110 shares during the period. Promus Capital LLC acquired a new stake in AbbVie during the fourth quarter worth about $30,000. Finally, Abound Financial LLC acquired a new stake in AbbVie during the first quarter worth about $30,000. 70.23% of the stock is owned by institutional investors and hedge funds.
AbbVie Company Profile
(
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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