AbbVie (NYSE:ABBV) Now Covered by Scotiabank

Scotiabank began coverage on shares of AbbVie (NYSE:ABBV) in a report issued on Thursday, Marketbeat.com reports. The brokerage set a “sector outperform” rating and a $280.00 price target on the stock. Scotiabank’s target price suggests a potential upside of 17.20% from the company’s current price.

Several other brokerages have also recently commented on ABBV. Cantor Fitzgerald set a $250.00 target price on AbbVie and gave the stock an “overweight” rating in a report on Thursday, October 9th. BMO Capital Markets lifted their price target on AbbVie from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, September 12th. Hsbc Global Res cut AbbVie from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 1st. Daiwa Capital Markets upgraded shares of AbbVie from a “neutral” rating to an “outperform” rating and set a $214.00 price target on the stock in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of AbbVie in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $238.55.

AbbVie Stock Performance

ABBV traded up $5.68 during trading hours on Thursday, hitting $238.91. The company’s stock had a trading volume of 3,182,693 shares, compared to its average volume of 6,380,327. The company has a 50-day simple moving average of $224.10 and a 200 day simple moving average of $203.43. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 44.14. The firm has a market capitalization of $422.25 billion, a PE ratio of 113.72, a PEG ratio of 1.42 and a beta of 0.50. AbbVie has a fifty-two week low of $163.81 and a fifty-two week high of $244.81.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 31st. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.09. AbbVie had a return on equity of 699.66% and a net margin of 6.45%.The company had revenue of $15.78 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period last year, the company earned $3.00 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. AbbVie has set its Q4 2025 guidance at 3.320-3.360 EPS. As a group, sell-side analysts expect that AbbVie will post 12.31 EPS for the current year.

Institutional Trading of AbbVie

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new position in AbbVie in the second quarter valued at about $4,288,200,000. Nuveen LLC acquired a new position in AbbVie during the first quarter worth $1,819,154,000. Laurel Wealth Advisors LLC grew its holdings in shares of AbbVie by 18,384.4% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 5,705,964 shares of the company’s stock valued at $1,059,141,000 after acquiring an additional 5,675,095 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of AbbVie by 550.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,332,054 shares of the company’s stock worth $804,116,000 after purchasing an additional 3,666,521 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of AbbVie by 31.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,646,908 shares of the company’s stock valued at $3,068,820,000 after buying an additional 3,519,187 shares during the last quarter. 70.23% of the stock is owned by institutional investors.

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.