AbbVie (NYSE:ABBV) Trading Up 7.1% – What’s Next?

AbbVie Inc. (NYSE:ABBV) was up 7.1% on Friday . The stock traded as high as $191.77 and last traded at $188.20. Approximately 4,079,653 shares were traded during mid-day trading, a decline of 30% from the average daily volume of 5,795,040 shares. The stock had previously closed at $175.65.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ABBV shares. Citigroup dropped their target price on AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Leerink Partners raised AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 target price on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Finally, Guggenheim raised their price target on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $205.00.

AbbVie Trading Up 5.4 %

The firm has a market capitalization of $327.31 billion, a price-to-earnings ratio of 64.28, a price-to-earnings-growth ratio of 1.77 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. The company has a fifty day moving average price of $176.43 and a 200-day moving average price of $184.84.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.82). AbbVie had a net margin of 9.22% and a return on equity of 244.01%. During the same period in the prior year, the company earned $2.79 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post 10.09 EPS for the current year.

Insider Activity at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Beaton Management Co. Inc. boosted its stake in AbbVie by 1.1% in the fourth quarter. Beaton Management Co. Inc. now owns 10,550 shares of the company’s stock worth $1,875,000 after purchasing an additional 116 shares in the last quarter. Hudson Canyon Capital Management boosted its stake in AbbVie by 13.3% in the fourth quarter. Hudson Canyon Capital Management now owns 9,800 shares of the company’s stock worth $1,741,000 after purchasing an additional 1,150 shares in the last quarter. GAM Holding AG acquired a new position in AbbVie in the fourth quarter worth $1,534,000. Kornitzer Capital Management Inc. KS boosted its stake in AbbVie by 37.1% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 26,884 shares of the company’s stock worth $4,777,000 after purchasing an additional 7,268 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in AbbVie by 1.1% in the fourth quarter. Venturi Wealth Management LLC now owns 78,756 shares of the company’s stock worth $13,995,000 after purchasing an additional 892 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

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.