AbbVie (ABBV) PT Set at $84.00 by BMO Capital Markets

AbbVie (NYSE:ABBV) received a $84.00 price target from investment analysts at BMO Capital Markets in a note issued to investors on Thursday. The firm currently has a “hold” rating on the stock. BMO Capital Markets’ price objective would suggest a potential downside of 16.28% from the company’s previous close.

Several other research firms have also recently weighed in on ABBV. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target on the stock. in a report on Monday, January 8th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Jefferies Group increased their price target on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a report on Tuesday, January 2nd. Finally, ValuEngine cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $100.94.

AbbVie (NYSE:ABBV) traded up $1.07 during midday trading on Thursday, hitting $100.34. The stock had a trading volume of 4,372,638 shares, compared to its average volume of 4,460,000. The company has a market cap of $159,950.00, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie has a 12-month low of $59.27 and a 12-month high of $101.28.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. analysts expect that AbbVie will post 5.55 EPS for the current fiscal year.

In other news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of 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 available at the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares of the company’s stock, 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 valued at $47,237,938 over the last 90 days. 0.23% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of ABBV. Capital Research Global Investors increased its stake in AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after buying an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. increased its stake in AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. BlackRock Inc. increased its stake in AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after buying an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd increased its stake in AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd increased its stake in AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after buying an additional 937,500 shares in the last quarter. Hedge funds and other institutional investors 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.

Analyst Recommendations for AbbVie (NYSE:ABBV)

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