AbbVie (NYSE:ABBV) had its target price upped by stock analysts at Piper Jaffray Companies from $115.00 to $130.00 in a report issued on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Piper Jaffray Companies’ price target would indicate a potential upside of 5.51% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Leerink Swann set a $106.00 price objective on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, December 5th. Argus lifted their price objective on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday. Barclays reiterated a “hold” rating and set a $68.00 price objective on shares of AbbVie in a research report on Thursday, September 28th. Finally, UBS Group reiterated a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Seven research 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 stock. The company presently has a consensus rating of “Buy” and an average price target of $102.57.
AbbVie (ABBV) traded up $14.91 during trading on Friday, hitting $123.21. 19,614,480 shares of the stock traded hands, compared to its average volume of 4,580,000. The company has a market capitalization of $196,410.00, a PE ratio of 29.91, a P/E/G ratio of 1.23 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie has a 52-week low of $59.27 and a 52-week high of $125.86.
In related news, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the transaction, the chairman now directly owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 494,676 shares of company stock valued at $47,237,938. 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. Formidable Asset Management LLC boosted its stake in AbbVie by 0.3% during the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after buying an additional 10 shares during the period. WealthTrust Axiom LLC lifted its position in shares of AbbVie by 0.3% during the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after purchasing an additional 15 shares during the last quarter. Abner Herrman & Brock LLC lifted its position in shares of AbbVie by 0.3% during the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after purchasing an additional 18 shares during the last quarter. St. Louis Trust Co lifted its position in shares of AbbVie by 0.7% during the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares during the last quarter. Finally, TRUE Private Wealth Advisors lifted its position in shares of AbbVie by 0.6% during the second quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the last quarter. 69.22% of the stock is owned by institutional investors.
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.
