UBS Group Raises AbbVie (NYSE:ABBV) Price Target to $200.00

AbbVie (NYSE:ABBV) had its price objective increased by UBS Group from $195.00 to $200.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential downside of 1.74% from the company’s previous close.

ABBV has been the topic of a number of other reports. Morgan Stanley boosted their price target on shares of AbbVie from $218.00 to $231.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler Companies reissued an “overweight” rating and issued a $190.00 price target on shares of AbbVie in a research report on Wednesday, July 3rd. Sanford C. Bernstein started coverage on AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. Truist Financial lifted their target price on AbbVie from $210.00 to $215.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets upped their price target on AbbVie from $214.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $201.00.

AbbVie Stock Performance

Shares of ABBV stock opened at $203.55 on Thursday. The company has a debt-to-equity ratio of 8.51, a quick ratio of 0.71 and a current ratio of 0.81. The firm has a market cap of $359.54 billion, a P/E ratio of 70.68, a P/E/G ratio of 2.76 and a beta of 0.63. The firm’s 50 day moving average price is $194.12 and its 200-day moving average price is $179.38. AbbVie has a one year low of $135.85 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.28 billion. AbbVie had a return on equity of 226.99% and a net margin of 9.22%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $2.95 earnings per share. As a group, equities research analysts predict that AbbVie will post 10.9 EPS for the current year.

Insider Buying and Selling

In other AbbVie news, Chairman Richard A. Gonzalez sold 66,500 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares in the company, valued at $83,299,645.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On AbbVie

A number of institutional investors have recently modified their holdings of the business. Fairway Wealth LLC acquired a new position in AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC purchased a new position in shares of AbbVie during the second quarter worth about $27,000. Quest Partners LLC increased its position in AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the period. Marquette Asset Management LLC acquired a new stake in AbbVie during the 3rd quarter worth approximately $39,000. Finally, Burkett Financial Services LLC grew its stake in shares of AbbVie by 61.2% in the 3rd quarter. Burkett Financial Services LLC now owns 216 shares of the company’s stock valued at $43,000 after purchasing an additional 82 shares during the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

AbbVie Company Profile

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.