AbbVie (NYSE:ABBV) Stock Price Up 1.2% – Here’s What Happened

Shares of AbbVie Inc. (NYSE:ABBV) were up 1.2% during trading on Wednesday . The stock traded as high as $193.38 and last traded at $192.32. Approximately 1,649,645 shares were traded during trading, a decline of 73% from the average daily volume of 6,220,386 shares. The stock had previously closed at $189.95.

Wall Street Analyst Weigh In

ABBV has been the subject of several research analyst reports. Raymond James reiterated an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a report on Monday. Sanford C. Bernstein assumed coverage on AbbVie in a report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price target for the company. JPMorgan Chase & Co. decreased their target price on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Guggenheim upped their price target on AbbVie from $212.00 to $214.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company boosted their target price on shares of AbbVie from $195.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Trading Up 0.8 %

The firm has a market capitalization of $338.41 billion, a P/E ratio of 79.86, a PEG ratio of 1.84 and a beta of 0.58. The business’s 50 day moving average is $177.01 and its two-hundred day moving average is $185.38. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate 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 period last year, the firm posted $2.79 earnings per share. Analysts expect that AbbVie Inc. will post 12.26 EPS for the current year.

Insider Buying and Selling at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

Hedge funds have recently modified their holdings of the business. Groupama Asset Managment boosted its position in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock valued at $27,000 after acquiring an additional 38,974 shares during the period. RPg Family Wealth Advisory LLC bought a new stake in AbbVie during the 3rd quarter worth approximately $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of AbbVie in the fourth quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of AbbVie in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 70.23% of the company’s stock.

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.