AbbVie (NYSE:ABBV) Given New $215.00 Price Target at BMO Capital Markets

AbbVie (NYSE:ABBV) had its price objective hoisted by research analysts at BMO Capital Markets from $208.00 to $215.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 16.91% from the stock’s current price.

A number of other brokerages also recently issued reports on ABBV. Citigroup cut their price target on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Wolfe Research started coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Guggenheim raised their price target on shares of AbbVie from $212.00 to $221.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Barclays raised their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Piper Sandler lifted their target price on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.35.

AbbVie Trading Up 4.7 %

ABBV opened at $183.90 on Monday. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The company’s 50 day simple moving average is $176.57 and its two-hundred day simple moving average is $185.13. AbbVie has a 1-year low of $153.58 and a 1-year high of $207.32. The firm has a market capitalization of $324.98 billion, a price-to-earnings ratio of 76.63, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58.

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

Insider Transactions at AbbVie

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

Institutional Investors Weigh In On AbbVie

Institutional investors have recently modified their holdings of the company. Groupama Asset Managment lifted its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the 3rd quarter worth $28,000. Fiduciary Advisors Inc. purchased a new stake in shares of AbbVie during the 4th quarter worth $29,000. Retirement Wealth Solutions LLC purchased a new stake in AbbVie in the fourth quarter valued at $35,000. Finally, Marquette Asset Management LLC purchased a new stake in AbbVie in the third quarter valued at $39,000. 70.23% of the stock is owned by hedge funds and other institutional investors.

About AbbVie

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.