AbbVie (NYSE:ABBV) Trading Up 1.5%

AbbVie Inc. (NYSE:ABBV)’s share price was up 1.5% during trading on Wednesday . The company traded as high as $165.61 and last traded at $164.54. Approximately 1,088,115 shares changed hands during trading, a decline of 80% from the average daily volume of 5,518,457 shares. The stock had previously closed at $162.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. HSBC raised AbbVie from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research report on Wednesday. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Truist Financial increased their price target on AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Cantor Fitzgerald started coverage on AbbVie in a research note on Friday, May 17th. They issued an “overweight” rating and a $200.00 price objective on the stock. Finally, Guggenheim raised their price target on AbbVie from $188.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie presently has an average rating of “Moderate Buy” and an average price target of $178.21.

AbbVie Stock Up 1.9 %

The stock has a market capitalization of $291.76 billion, a P/E ratio of 48.83, a PEG ratio of 2.05 and a beta of 0.60. The stock has a 50 day moving average price of $165.13 and a 200-day moving average price of $164.34. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analyst estimates of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. As a group, research analysts expect that AbbVie Inc. will post 11.26 EPS for the current fiscal year.

Insider Transactions at AbbVie

In related news, EVP Nicholas Donoghoe sold 21,082 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the completion of the sale, the executive vice president now owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Nicholas Donoghoe sold 21,082 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $176.30, for a total value of $3,716,756.60. Following the sale, the executive vice president now directly owns 55,903 shares of the company’s stock, valued at $9,855,698.90. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jeffrey Ryan Stewart sold 58,949 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $178.79, for a total transaction of $10,539,491.71. Following the completion of the sale, the executive vice president now directly owns 60,941 shares in the company, valued at $10,895,641.39. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ABBV. Vermillion & White Wealth Management Group LLC bought a new position in AbbVie in the 4th quarter valued at approximately $26,000. Able Wealth Management LLC bought a new position in AbbVie during the 4th quarter valued at about $33,000. IFS Advisors LLC purchased a new stake in AbbVie in the first quarter worth about $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of AbbVie during the 4th quarter valued at about $37,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of AbbVie in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.