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.
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.
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.