Shares of AbbVie Inc (NYSE:ABBV) have received an average rating of “Buy” from the nineteen research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $119.22.
ABBV has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Tuesday, October 17th. BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price target on the stock in a research note on Wednesday, December 20th. Credit Suisse Group set a $98.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Monday, January 22nd. Finally, SunTrust Banks reissued a “buy” rating on shares of AbbVie in a research note on Monday, October 30th.
Shares of AbbVie (NYSE ABBV) traded up $2.75 on Tuesday, reaching $112.26. 10,462,179 shares of the company were exchanged, compared to its average volume of 7,199,267. The stock has a market capitalization of $178,350.00, a P/E ratio of 27.16, a P/E/G ratio of 1.09 and a beta of 1.61. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie has a 1-year low of $60.05 and a 1-year high of $125.86.
In related news, EVP Michael Severino sold 25,633 shares of AbbVie 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 transaction, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the transaction, the senior vice president now directly owns 113,118 shares in the company, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 476,376 shares of company stock worth $45,580,873 over the last three months. Insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of ABBV. Formidable Asset Management LLC boosted its holdings in AbbVie by 0.3% in the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock valued at $285,000 after acquiring an additional 10 shares in the last quarter. WealthTrust Axiom LLC boosted its holdings in AbbVie by 0.3% in the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock valued at $312,000 after acquiring an additional 15 shares in the last quarter. St. Louis Trust Co boosted its holdings in AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock valued at $248,000 after acquiring an additional 23 shares in the last quarter. TRUE Private Wealth Advisors boosted its holdings in AbbVie by 0.6% in the second quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock valued at $349,000 after acquiring an additional 27 shares in the last quarter. Finally, Aspen Investment Management Inc boosted its holdings in AbbVie by 0.8% in the second quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock valued at $378,000 after acquiring an additional 40 shares in the last quarter. 69.54% of the stock is currently owned by 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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