AbbVie Inc. (NYSE:ABBV) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of AbbVie Inc. (NYSE:ABBV) have received an average recommendation of “Moderate Buy” from the twenty-eight analysts that are covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $210.95.

Several research analysts have recently weighed in on ABBV shares. BNP Paribas upgraded shares of AbbVie to a “hold” rating in a research note on Thursday, May 8th. Morgan Stanley boosted their price target on AbbVie from $241.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, April 28th. Citigroup reaffirmed a “neutral” rating and issued a $205.00 price objective (down from $210.00) on shares of AbbVie in a research report on Wednesday, May 14th. Erste Group Bank raised AbbVie to a “strong-buy” rating in a report on Monday, March 17th. Finally, BMO Capital Markets increased their price target on AbbVie from $208.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd.

Insider Transactions at AbbVie

In related news, EVP Timothy J. Richmond sold 29,917 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total value of $6,070,159.30. Following the transaction, the executive vice president now owns 44,284 shares in the company, valued at approximately $8,985,223.60. This trade represents a 40.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin K. Buckbee sold 18,944 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the sale, the senior vice president now directly owns 11,496 shares of the company’s stock, valued at $2,338,401.36. This represents a 62.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,693 shares of company stock valued at $22,282,985. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of AbbVie

Large investors have recently made changes to their positions in the company. ERn Financial LLC grew its position in AbbVie by 58.6% in the fourth quarter. ERn Financial LLC now owns 1,724 shares of the company’s stock valued at $306,000 after acquiring an additional 637 shares during the last quarter. MPS Loria Financial Planners LLC grew its holdings in shares of AbbVie by 0.8% during the 4th quarter. MPS Loria Financial Planners LLC now owns 16,325 shares of the company’s stock valued at $2,901,000 after purchasing an additional 125 shares during the last quarter. Foresight Capital Management Advisors Inc. increased its position in AbbVie by 14.3% during the 4th quarter. Foresight Capital Management Advisors Inc. now owns 10,396 shares of the company’s stock worth $1,847,000 after purchasing an additional 1,297 shares in the last quarter. Mason & Associates Inc increased its position in AbbVie by 49.9% during the 4th quarter. Mason & Associates Inc now owns 4,506 shares of the company’s stock worth $801,000 after purchasing an additional 1,499 shares in the last quarter. Finally, IFS Advisors LLC lifted its stake in AbbVie by 150.0% in the 4th quarter. IFS Advisors LLC now owns 500 shares of the company’s stock valued at $89,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

AbbVie Stock Down 1.7%

ABBV stock opened at $181.74 on Friday. The company has a market cap of $321.02 billion, a price-to-earnings ratio of 75.72, a P/E/G ratio of 1.62 and a beta of 0.56. AbbVie has a twelve month low of $153.58 and a twelve month high of $218.66. The business has a 50 day moving average price of $189.64 and a two-hundred day moving average price of $186.68. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.06. AbbVie had a net margin of 7.59% and a return on equity of 296.28%. The business had revenue of $13.34 billion during the quarter, compared to analysts’ expectations of $12.91 billion. During the same period last year, the business earned $2.31 earnings per share. The firm’s revenue was up 8.4% on a year-over-year basis. Analysts anticipate that AbbVie will post 12.31 EPS for the current fiscal year.

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.