AbbVie (NYSE:ABBV – Get 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.
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.
- Get a free copy of the StockNews.com research report on AbbVie (ABBV)
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