AbbVie (NYSE:ABBV) was downgraded by analysts at Leerink Swann from an “outperform” rating to a “market perform” rating in a report released on Monday, Marketbeat Ratings reports. They currently have a $127.00 price objective on the stock. Leerink Swann’s target price suggests a potential upside of 3.83% from the company’s current price.
Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Tuesday, October 17th. BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 25th. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price objective on the stock in a research report on Wednesday, December 20th. Credit Suisse Group set a $98.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research report on Monday, January 22nd. Finally, SunTrust Banks restated a “buy” rating on shares of AbbVie in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $111.27.
AbbVie (NYSE ABBV) traded down $0.90 on Monday, reaching $122.31. 10,175,402 shares of the company’s stock traded hands, compared to its average volume of 5,090,000. 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 has a fifty-two week low of $59.27 and a fifty-two week high of $125.86. The company has a market capitalization of $194,970.00, a P/E ratio of 29.69, a PEG ratio of 1.28 and a beta of 1.53.
In related news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 476,376 shares of company stock valued at $45,580,873 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of ABBV. Jennison Associates LLC purchased a new position in shares of AbbVie in the 3rd quarter worth $544,418,000. Capital International Investors grew its stake in shares of AbbVie by 137.7% in the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after buying an additional 4,550,954 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of AbbVie by 1,949.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after buying an additional 3,646,510 shares in the last quarter. Finally, Orbis Allan Gray Ltd grew its stake in shares of AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares in the last quarter. 69.28% of the stock is owned by institutional investors and hedge funds.
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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.
