Evercore ISI initiated coverage on shares of AbbVie (NYSE:ABBV) in a report published on Wednesday, TipRanks reports. The firm issued a buy rating and a $111.00 price objective on the stock.
A number of other equities research analysts also recently weighed in on ABBV. JPMorgan Chase & Co. raised AbbVie from a neutral rating to an overweight rating and set a $105.00 target price for the company in a report on Tuesday, May 12th. Bank of America assumed coverage on AbbVie in a research report on Monday, May 18th. They issued a neutral rating and a $95.00 target price on the stock. Morgan Stanley restated an overweight rating and set a $95.00 price target on shares of AbbVie in a report on Monday, May 11th. UBS Group reduced their price target on AbbVie from $106.00 to $96.00 and set a buy rating on the stock in a report on Monday, April 13th. Finally, Mizuho reiterated a buy rating and issued a $100.00 target price on shares of AbbVie in a report on Friday, May 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $102.93.
ABBV stock traded down $4.10 during mid-day trading on Wednesday, hitting $92.80. 6,333,682 shares of the company were exchanged, compared to its average volume of 11,845,915. The firm has a market cap of $143.10 billion, a P/E ratio of 16.39, a P/E/G ratio of 1.99 and a beta of 0.85. The firm’s 50 day simple moving average is $88.30 and its 200 day simple moving average is $86.11. AbbVie has a 1-year low of $62.55 and a 1-year high of $99.35.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, May 1st. The company reported $2.42 EPS for the quarter, topping the consensus estimate of $2.25 by $0.17. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.31 billion. AbbVie had a net margin of 24.77% and a negative return on equity of 169.80%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the company posted $2.14 EPS. On average, equities research analysts forecast that AbbVie will post 10.7 EPS for the current fiscal year.
In other news, SVP Jeffrey Ryan Stewart sold 23,024 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $90.00, for a total transaction of $2,072,160.00. Following the completion of the transaction, the senior vice president now owns 52,760 shares in the company, valued at approximately $4,748,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy J. Richmond sold 19,445 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $85.00, for a total value of $1,652,825.00. The disclosure for this sale can be found here. 0.09% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Efficient Wealth Management LLC purchased a new stake in AbbVie during the 1st quarter worth about $27,000. Lion Street Advisors LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at about $29,000. Altshuler Shaham Ltd raised its holdings in shares of AbbVie by 8,825.0% in the 4th quarter. Altshuler Shaham Ltd now owns 357 shares of the company’s stock valued at $32,000 after acquiring an additional 353 shares in the last quarter. Solstein Capital LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at about $32,000. Finally, Americana Partners LLC purchased a new stake in shares of AbbVie in the 4th quarter valued at about $32,000. Institutional investors own 72.44% of the company’s stock.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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