BMO Capital Markets Analysts Give AbbVie (ABBV) a $84.00 Price Target

AbbVie (NYSE:ABBV) has been assigned a $84.00 price objective by equities research analysts at BMO Capital Markets in a research note issued to investors on Thursday. The brokerage presently has a “hold” rating on the stock. BMO Capital Markets’ price target would suggest a potential downside of 15.74% from the company’s current price.

Several other equities research analysts have also recently issued reports on ABBV. SunTrust Banks reaffirmed a “buy” rating and issued a $95.00 target price on shares of AbbVie in a report on Wednesday, September 13th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $100.00 target price on shares of AbbVie in a report on Friday, September 15th. Jefferies Group reaffirmed a “buy” rating and issued a $107.00 target price (up from $94.00) on shares of AbbVie in a report on Friday, September 15th. UBS Group cut AbbVie from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $79.00 to $92.00 in a report on Monday, September 25th. Finally, Deutsche Bank lifted their target price on AbbVie to $88.00 and gave the stock a “hold” rating in a report on Thursday, September 28th. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $100.94.

Shares of AbbVie (NYSE:ABBV) traded down $0.55 during trading on Thursday, hitting $99.69. The stock had a trading volume of 4,608,500 shares, compared to its average volume of 4,526,786. AbbVie has a fifty-two week low of $59.27 and a fifty-two week high of $101.28. The stock has a market capitalization of $157,700.00, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.

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

In related news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred 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 owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura J. Schumacher sold 145,510 shares of the business’s 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 disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock valued at $47,237,938 in the last 90 days. Company insiders own 0.23% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Acropolis Investment Management LLC purchased a new stake in AbbVie during the second quarter worth $106,000. Hudock Capital Group LLC increased its position in shares of AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares during the period. Ffcm LLC increased its position in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares during the period. Bristlecone Advisors LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $113,000. Finally, BDO Wealth Advisors LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $115,000. Hedge funds and other institutional investors own 69.18% of the company’s stock.

WARNING: This story was first posted by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.americanbankingnews.com/2018/01/11/bmo-capital-markets-analysts-give-abbvie-abbv-a-84-00-price-target.html.

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.

Analyst Recommendations for AbbVie (NYSE:ABBV)