UBS Group Increases AbbVie (NYSE:ABBV) Price Target to $190.00

AbbVie (NYSE:ABBV) had its target price increased by research analysts at UBS Group from $181.00 to $190.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 0.65% from the company’s previous close.

Several other research firms also recently commented on ABBV. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Daiwa America cut shares of AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Bank of America reissued a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a research note on Tuesday, December 10th. Wells Fargo & Company increased their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $207.55.

AbbVie Price Performance

AbbVie stock traded up $4.87 during mid-day trading on Monday, reaching $188.77. 3,090,839 shares of the company were exchanged, compared to its average volume of 6,060,124. The company has a fifty day simple moving average of $176.57 and a 200-day simple moving average of $185.13. AbbVie has a 12 month low of $153.58 and a 12 month high of $207.32. 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 firm has a market cap of $333.59 billion, a PE ratio of 78.64, a PEG ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 31st. The company reported $2.16 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the business earned $2.79 earnings per share. As a group, equities research analysts expect that AbbVie will post 12.26 earnings per share for the current fiscal year.

Insider Activity at AbbVie

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

Institutional Investors Weigh In On AbbVie

A number of hedge funds have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter valued at about $28,000. Fiduciary Advisors Inc. acquired a new position in AbbVie in the fourth quarter worth about $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the fourth quarter worth about $35,000. Marquette Asset Management LLC acquired a new position in AbbVie in the third quarter worth about $39,000. Finally, Mizuho Securities Co. Ltd. raised its position in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 70.23% of the company’s stock.

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.