AbbVie (NYSE:ABBV) PT Raised to $212.00 at Barclays

by · The Markets Daily

AbbVie (NYSE:ABBV – Get Free Report) had its price objective boosted by equities researchers at Barclays from $200.00 to $212.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 9.85% from the stock’s current price.

Several other analysts also recently commented on the stock. Piper Sandler raised their target price on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Piper Sandler Companies reiterated an “overweight” rating and set a $190.00 target price on shares of AbbVie in a report on Wednesday, July 3rd. Truist Financial reaffirmed a “buy” rating and set a $210.00 price target (up previously from $195.00) on shares of AbbVie in a research report on Friday, July 26th. Morgan Stanley lifted their price target on shares of AbbVie from $211.00 to $218.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, William Blair upgraded shares of AbbVie to a “strong-buy” rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $194.67.

Check Out Our Latest Stock Analysis on AbbVie

AbbVie Stock Down 0.3 %

Shares of NYSE ABBV opened at $192.99 on Monday. AbbVie has a 52-week low of $135.85 and a 52-week high of $199.95. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The stock has a market cap of $340.79 billion, a P/E ratio of 57.27, a P/E/G ratio of 2.65 and a beta of 0.63. The firm has a 50 day moving average price of $193.58 and a 200 day moving average price of $176.95.

AbbVie (NYSE:ABBV – Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.08. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The firm had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.02 billion. During the same period in the previous year, the company posted $2.91 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. Analysts expect that AbbVie will post 10.86 EPS for the current year.

Insiders Place Their Bets

In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $175.00, for a total transaction of $49,497,875.00. Following the transaction, the chairman now owns 513,099 shares in the company, valued at $89,792,325. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other AbbVie news, Chairman Richard A. Gonzalez sold 282,845 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $175.00, for a total value of $49,497,875.00. Following the transaction, the chairman now directly owns 513,099 shares of the company’s stock, valued at $89,792,325. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

A number of large investors have recently modified their holdings of ABBV. Fairway Wealth LLC bought a new stake in shares of AbbVie during the 2nd quarter worth $26,000. Ridgewood Investments LLC acquired a new position in AbbVie during the second quarter worth about $27,000. Able Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth about $33,000. IFS Advisors LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at approximately $36,000. Finally, Quest Partners LLC grew its holdings in shares of AbbVie by 4,140.0% during the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after purchasing an additional 207 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Company Profile

(Get Free Report)

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.

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