Piper Jaffray Companies Boosts AbbVie (ABBV) Price Target to $130.00

AbbVie (NYSE:ABBV) had its price objective increased by Piper Jaffray Companies from $115.00 to $130.00 in a research report sent to investors on Friday, January 26th. Piper Jaffray Companies currently has an outperform rating on the stock.

A number of other research firms also recently commented on ABBV. Evercore ISI restated an outperform rating and set a $100.00 price target (up from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Societe Generale lifted their price objective on shares of AbbVie in a research note on Tuesday, November 21st. BMO Capital Markets set a $84.00 price objective on shares of AbbVie and gave the stock a hold rating in a research note on Thursday, January 11th. Jefferies Group lifted their price objective on shares of AbbVie from $115.00 to $120.00 and gave the stock a buy rating in a research note on Thursday, January 4th. Finally, Barclays reaffirmed a hold rating and issued a $68.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $117.26.

AbbVie (ABBV) opened at $111.93 on Friday. AbbVie has a fifty-two week low of $60.15 and a fifty-two week high of $125.86. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. The firm has a market cap of $177,682.66, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. AbbVie’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. sell-side analysts predict that AbbVie will post 7.46 earnings per share for the current year.

In other AbbVie news, insider Laura J. Schumacher sold 145,510 shares of AbbVie stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 450,743 shares of company stock worth $43,153,684. 0.23% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Savant Capital LLC lifted its stake in shares of AbbVie by 1.3% in the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after buying an additional 793 shares during the last quarter. Princeton Capital Management Inc. acquired a new stake in shares of AbbVie in the second quarter worth $1,394,000. Palisade Asset Management LLC lifted its stake in shares of AbbVie by 17.9% in the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after buying an additional 10,381 shares during the last quarter. Beaton Management Co. Inc. acquired a new stake in shares of AbbVie in the second quarter worth $528,000. Finally, Greatmark Investment Partners Inc. raised its stake in AbbVie by 3.7% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock valued at $2,551,000 after purchasing an additional 1,242 shares during the last quarter. Hedge funds and other institutional investors own 69.33% of the company’s stock.

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About AbbVie

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.

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