AbbVie (NYSE:ABBV) Shares Up 2.6% on Analyst Upgrade

AbbVie Inc. (NYSE:ABBV)’s share price rose 2.6% during trading on Monday after UBS Group raised their price target on the stock from $181.00 to $190.00. UBS Group currently has a neutral rating on the stock. AbbVie traded as high as $190.86 and last traded at $188.71. Approximately 2,925,508 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 6,047,242 shares. The stock had previously closed at $183.90.

A number of other research analysts have also weighed in on the stock. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Barclays raised their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Citigroup decreased their target price on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Piper Sandler Companies reaffirmed an “overweight” rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Five 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 stock. Based on data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $207.55.

Insiders Place Their Bets

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of AbbVie

A number of hedge funds have recently bought and sold shares of ABBV. RPg Family Wealth Advisory LLC purchased a new stake in shares of AbbVie during the third quarter worth $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the 4th quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie during the 4th quarter valued at about $35,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. grew its stake in shares of AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after buying an additional 100 shares in the last quarter. 70.23% of the stock is owned by hedge funds and other institutional investors.

AbbVie Stock Up 2.6 %

The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The stock has a market cap of $333.42 billion, a price-to-earnings ratio of 78.64, a P/E/G ratio of 1.84 and a beta of 0.58. The business has a fifty day moving average of $176.57 and a 200 day moving average of $185.13.

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 return on equity of 257.91% and a net margin of 7.59%. During the same quarter last year, the firm earned $2.79 earnings per share. On average, equities analysts predict that AbbVie Inc. will post 12.26 earnings per share for the current year.

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.