AbbVie Inc. (NYSE:ABBV) was upgraded by analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $105.00 price objective on the stock, up from their prior price objective of $91.17. Cowen and Company’s target price points to a potential upside of 14.85% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on ABBV. Evercore ISI reissued an “outperform” rating and set a $100.00 target price (up from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Piper Jaffray Companies reissued a “buy” rating and set a $85.00 target price on shares of AbbVie in a research report on Thursday, August 3rd. Barclays PLC reissued a “hold” rating and set a $68.00 target price on shares of AbbVie in a research report on Thursday, September 28th. BMO Capital Markets reissued a “hold” rating and set a $66.00 target price on shares of AbbVie in a research report on Thursday, September 28th. Finally, BidaskClub downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. AbbVie currently has a consensus rating of “Buy” and an average target price of $90.49.
AbbVie (NYSE ABBV) opened at 91.42 on Wednesday. The company has a 50-day moving average price of $84.59 and a 200-day moving average price of $72.69. The stock has a market cap of $145.73 billion, a P/E ratio of 22.48 and a beta of 1.51. AbbVie has a one year low of $55.06 and a one year high of $92.61.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The business had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts anticipate that AbbVie will post $5.53 earnings per share for the current year.
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In other news, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now owns 10,007 shares in the company, valued at $880,616. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 87,899 shares of AbbVie stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the completion of the transaction, the chairman now owns 342,353 shares of the company’s stock, valued at approximately $24,313,910.06. The disclosure for this sale can be found here. Insiders sold 379,890 shares of company stock valued at $27,187,817 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Amarillo National Bank bought a new position in shares of AbbVie in the third quarter valued at approximately $243,000. Eqis Capital Management Inc. raised its stake in shares of AbbVie by 22.2% in the third quarter. Eqis Capital Management Inc. now owns 29,983 shares of the company’s stock valued at $2,664,000 after acquiring an additional 5,453 shares during the last quarter. Curbstone Financial Management Corp raised its stake in shares of AbbVie by 93.3% in the third quarter. Curbstone Financial Management Corp now owns 20,062 shares of the company’s stock valued at $1,783,000 after acquiring an additional 9,681 shares during the last quarter. Ardsley Advisory Partners bought a new position in shares of AbbVie in the second quarter valued at approximately $544,000. Finally, Bogart Wealth LLC raised its stake in shares of AbbVie by 36.2% in the second quarter. Bogart Wealth LLC now owns 24,439 shares of the company’s stock valued at $1,772,000 after acquiring an additional 6,491 shares during the last quarter. Institutional investors own 68.26% of the company’s stock.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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