AbbVie (NYSE:ABBV) Given New $210.00 Price Target at Wells Fargo & Company

AbbVie (NYSE:ABBV) had its price objective hoisted by Wells Fargo & Company from $195.00 to $210.00 in a research note released on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on ABBV. Raymond James reiterated an “outperform” rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research report on Monday. Truist Financial dropped their price target on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Barclays boosted their price target on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Wolfe Research assumed coverage on shares of AbbVie in a report on Friday, November 15th. They issued an “outperform” rating and a $205.00 target price on the stock. Finally, BMO Capital Markets boosted their target price on shares of AbbVie from $208.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

ABBV opened at $190.20 on Monday. The firm has a market cap of $336.12 billion, a price-to-earnings ratio of 79.25, a PEG ratio of 1.84 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64. AbbVie has a twelve month low of $153.58 and a twelve month high of $207.32. The company has a fifty day simple moving average of $176.57 and a 200 day simple moving average of $185.13.

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

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AbbVie

Several institutional investors and hedge funds have recently bought and sold shares of the business. Groupama Asset Managment grew its holdings in shares of AbbVie by 40.3% in the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at approximately $28,000. Fiduciary Advisors Inc. acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $29,000. Retirement Wealth Solutions LLC acquired a new stake in shares of AbbVie in the 4th quarter valued at approximately $35,000. Finally, Marquette Asset Management LLC acquired a new stake in shares of AbbVie in the 3rd quarter valued at approximately $39,000. 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.