AbbVie (NYSE:ABBV) Given New $190.00 Price Target at UBS Group

AbbVie (NYSE:ABBV) had its price objective lifted by UBS Group from $181.00 to $190.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the stock.

ABBV has been the subject of several other reports. Citigroup cut their price target on shares of AbbVie from $215.00 to $205.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Wolfe Research initiated coverage on shares of AbbVie in a report on Friday, November 15th. They set an “outperform” rating and a $205.00 price target for the company. Piper Sandler lifted their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Finally, Raymond James reaffirmed an “outperform” rating and issued a $220.00 target price (up from $218.00) on shares of AbbVie in a research note on Monday. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

Shares of AbbVie stock opened at $190.20 on Monday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The firm’s 50-day simple moving average is $176.57 and its 200-day simple moving average is $185.13. AbbVie has a twelve month low of $153.58 and a twelve month high of $207.32. The firm has a market cap of $336.12 billion, a P/E ratio of 79.25, a price-to-earnings-growth ratio of 1.84 and a beta of 0.58.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 7.59% and a return on equity of 257.91%. During the same quarter in the prior year, the company earned $2.79 EPS. As a group, research analysts expect that AbbVie will post 12.26 EPS for the current fiscal year.

Insider Activity

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, the senior vice president now owns 6,983 shares in the company, valued at $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

A number of institutional investors have recently made changes to their positions in ABBV. Groupama Asset Managment lifted its position in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the third quarter worth $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the fourth quarter worth $29,000. Retirement Wealth Solutions LLC bought a new stake in shares of AbbVie in the fourth quarter worth $35,000. Finally, Marquette Asset Management LLC bought a new stake in shares of AbbVie in the third quarter worth $39,000. 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.