AbbVie (NYSE:ABBV) Stock Rating Reaffirmed by Cantor Fitzgerald

AbbVie (NYSE:ABBV)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports. They presently have a $200.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 17.25% from the company’s previous close.

A number of other brokerages also recently weighed in on ABBV. BMO Capital Markets cut their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Piper Sandler upped their price target on shares of AbbVie from $185.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays cut their price target on shares of AbbVie from $195.00 to $187.00 and set an “overweight” rating for the company in a report on Monday, April 29th. HSBC raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $185.00 price target for the company in a report on Wednesday, June 5th. Finally, Guggenheim upped their price objective on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average target price of $179.64.

AbbVie Stock Performance

Shares of ABBV opened at $170.57 on Thursday. AbbVie has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a market cap of $301.20 billion, a price-to-earnings ratio of 50.61, a price-to-earnings-growth ratio of 2.19 and a beta of 0.60. The company has a debt-to-equity ratio of 7.93, a quick ratio of 0.83 and a current ratio of 0.94. The firm has a fifty day moving average of $163.89 and a 200-day moving average of $166.64.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same period in the previous year, the business earned $2.46 earnings per share. The company’s revenue was up .7% on a year-over-year basis. As a group, equities analysts anticipate that AbbVie will post 11.27 earnings per share for the current year.

Hedge Funds Weigh In On AbbVie

A number of large investors have recently made changes to their positions in the business. TruNorth Capital Management LLC acquired a new position in AbbVie in the first quarter worth approximately $252,000. Keynote Financial Services LLC acquired a new position in AbbVie in the first quarter worth approximately $7,426,000. IMS Capital Management increased its holdings in AbbVie by 0.4% in the first quarter. IMS Capital Management now owns 17,713 shares of the company’s stock worth $3,226,000 after buying an additional 73 shares during the last quarter. Jackson Wealth Management LLC acquired a new position in AbbVie in the first quarter worth approximately $209,000. Finally, American Trust increased its holdings in AbbVie by 5.2% in the first quarter. American Trust now owns 7,166 shares of the company’s stock worth $1,305,000 after buying an additional 357 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.