AbbVie (NYSE:ABBV) PT Raised to $200.00

AbbVie (NYSE:ABBVGet Rating) had its target price increased by equities research analysts at Wells Fargo & Company from $165.00 to $200.00 in a research report issued on Monday, The Fly reports. Wells Fargo & Company‘s price objective would indicate a potential upside of 36.17% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Barclays lifted their target price on AbbVie from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 12th. Cowen lifted their target price on AbbVie from $130.00 to $150.00 in a report on Tuesday, January 18th. Citigroup boosted their price objective on AbbVie from $155.00 to $170.00 in a report on Tuesday, March 1st. Redburn Partners started coverage on AbbVie in a report on Thursday, January 13th. They set a “buy” rating for the company. Finally, StockNews.com upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Friday, April 8th. Four analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $160.07.

Shares of NYSE:ABBV opened at $146.88 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 4.16. The stock’s fifty day simple moving average is $157.06 and its two-hundred day simple moving average is $137.66. AbbVie has a 1-year low of $105.56 and a 1-year high of $175.91. The stock has a market cap of $259.43 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 4.11 and a beta of 0.81.

AbbVie (NYSE:ABBVGet Rating) last issued its quarterly earnings data on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.02. AbbVie had a return on equity of 164.05% and a net margin of 20.54%. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.61 billion. During the same period last year, the business earned $2.95 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, sell-side analysts forecast that AbbVie will post 14.1 earnings per share for the current fiscal year.

In related news, EVP Jeffrey Ryan Stewart sold 27,690 shares of the company’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $159.20, for a total transaction of $4,408,248.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman Robert A. Michael sold 43,105 shares of the company’s stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $148.25, for a total value of $6,390,316.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,819 shares of company stock worth $16,155,094. Corporate insiders own 0.08% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Signaturefd LLC increased its position in AbbVie by 11.3% during the 1st quarter. Signaturefd LLC now owns 40,016 shares of the company’s stock valued at $6,487,000 after buying an additional 4,075 shares in the last quarter. Security National Bank of SO Dak increased its holdings in shares of AbbVie by 4.2% in the first quarter. Security National Bank of SO Dak now owns 15,149 shares of the company’s stock valued at $2,456,000 after purchasing an additional 605 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of AbbVie by 22.8% in the first quarter. Arkadios Wealth Advisors now owns 27,705 shares of the company’s stock valued at $4,491,000 after purchasing an additional 5,142 shares during the period. Alaska Permanent Fund Corp increased its holdings in shares of AbbVie by 0.8% in the first quarter. Alaska Permanent Fund Corp now owns 23,607 shares of the company’s stock valued at $3,827,000 after purchasing an additional 196 shares during the period. Finally, Northwest Wealth Management LLC acquired a new stake in AbbVie during the first quarter worth about $293,000. 67.03% of the stock is currently owned by institutional investors.

About AbbVie (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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