AbbVie Inc. (NYSE:ABBV) Receives $164.00 Consensus Price Target from Analysts

AbbVie Inc. (NYSE:ABBV – Get Rating) has been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $164.00.

A number of equities research analysts recently weighed in on ABBV shares. BMO Capital Markets lowered their target price on shares of AbbVie from $169.00 to $167.00 and set an “outperform” rating on the stock in a report on Monday, February 6th. SVB Securities raised shares of AbbVie from an “underperform” rating to a “market perform” rating and increased their target price for the company from $135.00 to $153.00 in a research report on Friday, February 10th. Barclays raised their price objective on shares of AbbVie from $155.00 to $160.00 in a report on Wednesday, April 12th. Atlantic Securities dropped their price objective on AbbVie from $157.00 to $154.00 and set a “neutral” rating for the company in a research note on Friday, February 10th. Finally, Guggenheim dropped their price objective on AbbVie from $172.00 to $171.00 in a research note on Friday, April 28th.

AbbVie Stock Performance

Shares of ABBV opened at $138.62 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.82 and a debt-to-equity ratio of 4.46. The stock has a market capitalization of $244.57 billion, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 2.60 and a beta of 0.58. The firm’s fifty day simple moving average is $154.18 and its two-hundred day simple moving average is $154.85. AbbVie has a 12 month low of $134.09 and a 12 month high of $168.11.

AbbVie (NYSE:ABBV – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The company reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.02. AbbVie had a net margin of 13.37% and a return on equity of 153.92%. The firm had revenue of $12.23 billion for the quarter, compared to analyst estimates of $12.23 billion. During the same quarter in the prior year, the business earned $3.16 earnings per share. The business’s quarterly revenue was down 9.7% compared to the same quarter last year. As a group, analysts predict that AbbVie will post 10.97 EPS for the current year.

Insider Buying and Selling

In other AbbVie news, SVP Elaine K. Sorg sold 6,130 shares of AbbVie stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total transaction of $1,011,450.00. Following the sale, the senior vice president now directly owns 35,330 shares of the company’s stock, valued at approximately $5,829,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Elaine K. Sorg sold 6,130 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $165.00, for a total value of $1,011,450.00. Following the sale, the senior vice president now directly owns 35,330 shares of the company’s stock, valued at approximately $5,829,450. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Elaine K. Sorg sold 15,003 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $155.00, for a total value of $2,325,465.00. Following the completion of the sale, the senior vice president now directly owns 42,829 shares in the company, valued at $6,638,495. The disclosure for this sale can be found here. Insiders have sold 128,356 shares of company stock valued at $19,901,151 over the last ninety days. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On AbbVie

Hedge funds have recently added to or reduced their stakes in the stock. Empower Advisory Group LLC purchased a new stake in shares of AbbVie in the 1st quarter worth $77,660,000. Old North State Trust LLC raised its position in shares of AbbVie by 48.8% during the 1st quarter. Old North State Trust LLC now owns 12,211 shares of the company’s stock valued at $1,312,000 after buying an additional 4,002 shares in the last quarter. 3Chopt Investment Partners LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at about $1,247,000. Front Row Advisors LLC raised its position in shares of AbbVie by 1.2% during the 1st quarter. Front Row Advisors LLC now owns 27,706 shares of the company’s stock valued at $4,415,000 after buying an additional 318 shares in the last quarter. Finally, Raleigh Capital Management Inc. raised its position in shares of AbbVie by 3.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 19,090 shares of the company’s stock valued at $3,043,000 after buying an additional 587 shares in the last quarter. 67.71% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Company Profile

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.