AbbVie (NYSE:ABBV) Given New $210.00 Price Target at Wells Fargo & Company

AbbVie (NYSE:ABBV) had its price objective raised by analysts at Wells Fargo & Company from $195.00 to $210.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 11.31% from the stock’s previous close.

Other analysts also recently issued research reports about the company. TD Cowen lifted their target price on AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Guggenheim raised their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. lowered their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Bank of America reaffirmed a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Finally, Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $208.05.

AbbVie Stock Performance

NYSE ABBV traded up $4.77 on Monday, hitting $188.67. 2,833,354 shares of the company traded hands, compared to its average volume of 6,047,242. The business’s 50 day moving average price is $176.57 and its 200-day moving average price is $185.13. AbbVie has a 52-week low of $153.58 and a 52-week high of $207.32. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a market capitalization of $333.40 billion, a price-to-earnings ratio of 78.56, a P/E/G ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the prior year, the company earned $2.79 EPS. Equities analysts expect that AbbVie will post 12.26 earnings per share for the current year.

Insider Activity at AbbVie

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advyzon Investment Management LLC purchased a new stake in shares of AbbVie during the fourth quarter worth $715,000. Handelsbanken Fonder AB grew its stake in AbbVie by 4.0% during the 4th quarter. Handelsbanken Fonder AB now owns 1,191,207 shares of the company’s stock valued at $211,677,000 after acquiring an additional 45,266 shares in the last quarter. WealthBridge Capital Management LLC raised its holdings in AbbVie by 2.6% in the 4th quarter. WealthBridge Capital Management LLC now owns 12,573 shares of the company’s stock valued at $2,234,000 after acquiring an additional 317 shares during the last quarter. Wealth Alliance lifted its stake in AbbVie by 3.6% in the 4th quarter. Wealth Alliance now owns 22,672 shares of the company’s stock worth $4,029,000 after purchasing an additional 779 shares in the last quarter. Finally, Sunpointe LLC boosted its holdings in shares of AbbVie by 29.9% during the 4th quarter. Sunpointe LLC now owns 4,401 shares of the company’s stock worth $782,000 after purchasing an additional 1,013 shares during the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

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.