AbbVie (NYSE:ABBV) Shares Up 0.9% – What’s Next?

AbbVie Inc. (NYSE:ABBV)’s share price rose 0.9% during trading on Wednesday . The stock traded as high as $194.37 and last traded at $193.52. Approximately 979,070 shares were traded during trading, a decline of 83% from the average daily volume of 5,886,806 shares. The stock had previously closed at $191.83.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on ABBV shares. JPMorgan Chase & Co. lowered their price objective on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Guggenheim boosted their price target on shares of AbbVie from $212.00 to $214.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Wolfe Research assumed coverage on shares of AbbVie in a research report on Friday, November 15th. They issued an “outperform” rating and a $205.00 price target for the company. UBS Group lifted their price objective on shares of AbbVie from $181.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average target price of $208.35.

AbbVie Stock Performance

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 market cap of $339.58 billion, a PE ratio of 80.07, a P/E/G ratio of 1.53 and a beta of 0.58. The firm’s 50-day simple moving average is $177.91 and its two-hundred day simple moving average is $185.86.

AbbVie (NYSE:ABBV) last announced 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 7.59% and a return on equity of 257.91%. During the same quarter in the previous year, the business earned $2.79 EPS. As a group, research analysts anticipate that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the sale, the senior vice president now owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On AbbVie

Institutional investors have recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new position in shares of AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new stake in AbbVie during the 4th quarter worth about $29,000. Promus Capital LLC purchased a new position in shares of AbbVie during the 4th quarter valued at about $30,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of AbbVie in the 4th quarter valued at about $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of AbbVie in the fourth quarter worth about $35,000. 70.23% of the stock is owned by hedge funds and other 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.