AbbVie (NYSE:ABBV) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Friday.

Several other analysts have also recently weighed in on ABBV. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Tuesday, January 8th. Barclays reissued a “hold” rating and set a $86.00 price target on shares of AbbVie in a report on Thursday, February 14th. Credit Suisse Group raised AbbVie to a “hold” rating and set a $79.00 price target for the company in a report on Thursday, January 17th. Morgan Stanley set a $88.00 price target on AbbVie and gave the stock a “hold” rating in a report on Thursday, December 20th. Finally, UBS Group reissued a “neutral” rating and set a $91.00 price target (down from $97.00) on shares of AbbVie in a report on Wednesday, January 23rd. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $94.48.

ABBV opened at $81.34 on Friday. AbbVie has a 12-month low of $75.77 and a 12-month high of $116.73. The company has a market capitalization of $119.98 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.19 and a beta of 1.17.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 25th. The company reported $1.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.92 by ($0.02). The firm had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a negative return on equity of 439.07% and a net margin of 17.36%. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 earnings per share. Sell-side analysts anticipate that AbbVie will post 8.68 EPS for the current year.

AbbVie declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 13th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other AbbVie news, Vice Chairman Laura J. Schumacher sold 25,000 shares of AbbVie stock in a transaction on Friday, December 28th. The stock was sold at an average price of $90.00, for a total value of $2,250,000.00. Following the completion of the transaction, the insider now directly owns 134,322 shares of the company’s stock, valued at approximately $12,088,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Azita Saleki-Gerhardt sold 15,797 shares of AbbVie stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $79.03, for a total value of $1,248,436.91. Following the completion of the transaction, the executive vice president now owns 93,312 shares in the company, valued at approximately $7,374,447.36. The disclosure for this sale can be found here. Insiders sold a total of 90,797 shares of company stock valued at $7,748,437 over the last ninety days. Insiders own 0.07% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of ABBV. Prime Capital Investment Advisors LLC bought a new stake in AbbVie during the 4th quarter worth $27,000. Penserra Capital Management LLC bought a new stake in AbbVie during the 4th quarter worth $32,000. Larson Financial Group LLC bought a new stake in AbbVie during the 4th quarter worth $37,000. Horrell Capital Management Inc. bought a new stake in AbbVie during the 4th quarter worth $41,000. Finally, Capital Financial Planning LLC bought a new stake in AbbVie during the 4th quarter worth $41,000. Institutional investors own 68.40% of the company’s stock.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.

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Analyst Recommendations for AbbVie (NYSE:ABBV)

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