AbbVie (NYSE:ABBV) was upgraded by equities research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday, December 20th. The firm currently has a $113.08 target price on the stock. Vetr‘s target price would suggest a potential upside of 12.70% from the stock’s previous close.
ABBV has been the subject of a number of other research reports. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Jefferies Group reaffirmed a “buy” rating and issued a $94.00 price objective on shares of AbbVie in a research note on Friday, September 8th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $100.00 price objective (up previously from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Cowen reiterated a “hold” rating and issued a $95.00 target price (up previously from $70.00) on shares of AbbVie in a research report on Monday, September 11th. Finally, Leerink Swann reiterated a “market perform” rating on shares of AbbVie in a research report on Tuesday, September 12th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. AbbVie currently has a consensus rating of “Buy” and an average target price of $100.94.
AbbVie (NYSE:ABBV) traded up $1.07 during trading on Wednesday, hitting $100.34. 4,370,600 shares of the stock traded hands, compared to its average volume of 4,460,000. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The company has a market capitalization of $159,950.00, a PE ratio of 24.35, a PEG ratio of 1.18 and a beta of 1.53. AbbVie has a twelve month low of $59.27 and a twelve month high of $101.28.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $1.21 earnings per share. equities research analysts forecast that AbbVie will post 5.55 earnings per share for the current year.
In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the sale, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares in the company, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock worth $47,237,938 in the last quarter. Insiders own 0.23% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Bristlecone Advisors LLC bought a new position in AbbVie during the 3rd quarter valued at about $113,000. Acropolis Investment Management LLC bought a new position in AbbVie during the 2nd quarter valued at about $106,000. Ffcm LLC lifted its holdings in AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the last quarter. Hudock Capital Group LLC lifted its holdings in AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the last quarter. Finally, Hershey Trust Co. bought a new position in shares of AbbVie in the third quarter worth about $139,000. Institutional investors and hedge funds own 69.18% of the company’s stock.
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AbbVie Company Profile
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.
To view Vetr’s full report, visit Vetr’s official website.
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