AbbVie (NYSE:ABBV) received a $84.00 price target from analysts at BMO Capital Markets in a research report issued to clients and investors on Wednesday. The brokerage currently has a “hold” rating on the stock. BMO Capital Markets’ target price indicates a potential downside of 14.73% from the stock’s previous close.
Several other equities analysts have also recently commented on ABBV. Barclays restated a “hold” rating and set a $68.00 target price on shares of AbbVie in a research report on Thursday, September 28th. Evercore ISI restated an “outperform” rating and set a $100.00 target price (up from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Jefferies Group restated a “buy” rating and set a $107.00 target price on shares of AbbVie in a research report on Thursday, September 28th. Credit Suisse Group restated a “neutral” rating and set a $94.00 target price (up from $74.00) on shares of AbbVie in a research report on Sunday, October 1st. Finally, Leerink Swann set a $106.00 target price on AbbVie and gave the stock a “buy” rating in a research report on Tuesday, December 5th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $97.96.
AbbVie (NYSE ABBV) traded up $0.59 during trading hours on Wednesday, hitting $98.51. The company had a trading volume of 979,571 shares, compared to its average volume of 6,089,547. 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 12 month low of $59.27 and a 12 month high of $99.10. The company has a market cap of $156,753.45, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.37 and a beta of 1.52.
In other news, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. In the last three months, insiders sold 501,375 shares of company stock valued at $47,827,450. 0.23% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC raised its position in AbbVie by 5.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,418,955 shares of the company’s stock valued at $303,808,000 after purchasing an additional 188,933 shares during the last quarter. Shelton Capital Management raised its position in shares of AbbVie by 59.6% in the 3rd quarter. Shelton Capital Management now owns 127,799 shares of the company’s stock worth $11,356,000 after acquiring an additional 47,700 shares in the last quarter. GSB Wealth Management LLC bought a new position in shares of AbbVie in the 3rd quarter worth approximately $240,000. Steward Partners Investment Advisory LLC bought a new position in shares of AbbVie in the 3rd quarter worth approximately $5,754,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of AbbVie by 0.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,101,377 shares of the company’s stock worth $97,868,000 after acquiring an additional 4,028 shares in the last quarter. 69.18% of the stock is owned by institutional investors and hedge funds.
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.
