AbbVie (NYSE:ABBV) received a $95.00 target price from equities researchers at BMO Capital Markets in a note issued to investors on Thursday. The firm presently has a “sell” rating on the stock. BMO Capital Markets’ price objective would suggest a potential downside of 4.14% from the stock’s previous close.

Several other equities research analysts have also commented on ABBV. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $128.42 price target for the company in a research report on Tuesday, March 6th. Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Tuesday. Evercore ISI reaffirmed a “buy” rating and set a $144.00 price target on shares of AbbVie in a research report on Monday, January 29th. Leerink Swann set a $106.00 price target on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, December 5th. Finally, Jefferies Group set a $145.00 price target on shares of AbbVie and gave the company a “buy” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $120.96.

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Shares of AbbVie stock traded down $13.35 during trading hours on Thursday, reaching $99.10. The company’s stock had a trading volume of 10,073,707 shares, compared to its average volume of 6,675,273. AbbVie has a fifty-two week low of $63.12 and a fifty-two week high of $125.86. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. The stock has a market cap of $178,885.16, a price-to-earnings ratio of 30.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.52.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The firm had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. sell-side analysts anticipate that AbbVie will post 7.48 EPS for the current year.

AbbVie announced that its board has initiated a stock buyback program on Thursday, February 15th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

In other AbbVie news, VP Robert A. Michael sold 4,294 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total value of $512,832.42. Following the completion of the transaction, the vice president now directly owns 11,170 shares in the company, valued at approximately $1,334,033.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. Insiders sold a total of 211,197 shares of company stock valued at $24,585,575 over the last three months. 0.23% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the business. Formidable Asset Management LLC boosted its stake in AbbVie by 0.3% in the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares during the period. Aspen Investment Management Inc boosted its position in shares of AbbVie by 0.8% during the 2nd quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock valued at $378,000 after acquiring an additional 40 shares during the last quarter. Beaumont Financial Partners LLC boosted its position in shares of AbbVie by 1.0% during the 2nd quarter. Beaumont Financial Partners LLC now owns 5,616 shares of the company’s stock valued at $407,000 after acquiring an additional 56 shares during the last quarter. Schulhoff & Co. Inc. boosted its position in shares of AbbVie by 0.3% during the 2nd quarter. Schulhoff & Co. Inc. now owns 23,912 shares of the company’s stock valued at $1,733,000 after acquiring an additional 60 shares during the last quarter. Finally, High Falls Advisors Inc boosted its position in shares of AbbVie by 1.4% during the 2nd quarter. High Falls Advisors Inc now owns 4,376 shares of the company’s stock valued at $317,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 70.51% of the company’s stock.

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About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.

Analyst Recommendations for AbbVie (NYSE:ABBV)

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