AbbVie (NYSE:ABBV) had its price target lifted by equities researchers at Argus from $120.00 to $145.00 in a research report issued on Friday. The brokerage currently has a “buy” rating on the stock. Argus’ price target suggests a potential upside of 25.90% from the stock’s current price.
Several other equities research analysts have also weighed in on ABBV. Evercore ISI reiterated a “buy” rating and issued a $144.00 price objective on shares of AbbVie in a research note on Monday. Credit Suisse Group set a $135.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Monday. ValuEngine upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Friday. Piper Jaffray Companies increased their price target on AbbVie from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Leerink Swann lowered AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price target on the stock. in a research report on Monday. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $117.26.
AbbVie (NYSE ABBV) traded down $1.17 during mid-day trading on Friday, hitting $115.17. The stock had a trading volume of 7,184,173 shares, compared to its average volume of 5,800,000. AbbVie has a 52 week low of $60.05 and a 52 week high of $125.86. The company has a market cap of $183,590.00, a price-to-earnings ratio of 27.95, a P/E/G ratio of 1.07 and a beta of 1.61. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.
In other AbbVie news, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the transaction, the chairman now owns 492,030 shares in the company, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders sold a total of 476,376 shares of company stock worth $45,580,873 over the last quarter. Corporate insiders own 0.23% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Savant Capital LLC lifted its stake in shares of AbbVie by 1.3% in the 2nd quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after purchasing an additional 793 shares during the period. Princeton Capital Management Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at $1,394,000. Palisade Asset Management LLC lifted its stake in shares of AbbVie by 17.9% in the 2nd quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after purchasing an additional 10,381 shares during the period. Beaton Management Co. Inc. acquired a new position in shares of AbbVie in the 2nd quarter valued at $528,000. Finally, Greatmark Investment Partners Inc. lifted its stake in shares of AbbVie by 3.7% in the 2nd quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock valued at $2,551,000 after purchasing an additional 1,242 shares during the period. Hedge funds and other institutional investors own 69.28% of the company’s stock.
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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.
