AbbVie (NYSE:ABBV)‘s stock had its “buy” rating reaffirmed by Evercore ISI in a research report issued on Monday. They presently have a $144.00 target price on the stock. Evercore ISI’s target price would indicate a potential upside of 17.06% from the company’s current price.
Other research analysts also recently issued reports about the stock. BMO Capital Markets downgraded shares of AbbVie from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $125.86 to $59.27 in a report on Monday. UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a report on Friday, October 13th. Jefferies Group raised their price objective on shares of AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, October 16th. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Thursday, January 18th. Finally, Piper Jaffray Companies raised their price objective on shares of AbbVie to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $111.27.
AbbVie (ABBV) traded down $0.20 during trading hours on Monday, reaching $123.01. 6,130,402 shares of the company’s stock traded hands, compared to its average volume of 5,864,031. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The stock has a market cap of $195,950.00, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.53. AbbVie has a 52-week low of $59.27 and a 52-week high of $125.86.
In other AbbVie news, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at approximately $10,881,964.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 476,376 shares of company stock valued at $45,580,873. Insiders own 0.23% of the company’s stock.
A number of large investors have recently made changes to their positions in ABBV. Capital Research Global Investors lifted its holdings in shares of AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after acquiring an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after acquiring an additional 3,706,941 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after acquiring an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd lifted its holdings in shares of AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after acquiring an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd lifted its holdings in shares of AbbVie by 8.6% during the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after acquiring an additional 937,500 shares during the last quarter. 69.28% of the stock is owned by hedge funds and other institutional investors.
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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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