AbbVie Inc. (NYSE:ABBV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

AbbVie Inc. (NYSE:ABBV – Get Rating) has received an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $164.00.

A number of research firms recently issued reports on ABBV. SVB Leerink raised shares of AbbVie from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $135.00 to $153.00 in a research note on Friday, February 10th. Barclays boosted their target price on shares of AbbVie from $155.00 to $160.00 in a research note on Wednesday, April 12th. Guggenheim decreased their price target on shares of AbbVie from $172.00 to $171.00 in a research note on Friday, April 28th. Morgan Stanley boosted their price objective on AbbVie from $178.00 to $181.00 and gave the stock an “overweight” rating in a research note on Monday, April 10th. Finally, Argus downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th.

Insider Activity at AbbVie

In other news, EVP Perry C. Siatis sold 3,520 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $160.00, for a total transaction of $563,200.00. Following the completion of the sale, the executive vice president now owns 10,377 shares in the company, valued at approximately $1,660,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Perry C. Siatis sold 3,520 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $160.00, for a total value of $563,200.00. Following the transaction, the executive vice president now owns 10,377 shares of the company’s stock, valued at approximately $1,660,320. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Scott T. Reents sold 15,942 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $153.08, for a total value of $2,440,401.36. Following the sale, the chief financial officer now directly owns 809 shares of the company’s stock, valued at $123,841.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 128,356 shares of company stock valued at $19,901,151. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On AbbVie

Several large investors have recently made changes to their positions in ABBV. O Dell Group LLC boosted its position in shares of AbbVie by 108.7% during the third quarter. O Dell Group LLC now owns 192 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the period. Kalos Management Inc. acquired a new position in AbbVie in the 1st quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group lifted its position in shares of AbbVie by 85.3% during the third quarter. Oliver Lagore Vanvalin Investment Group now owns 202 shares of the company’s stock worth $27,000 after purchasing an additional 93 shares in the last quarter. Align Wealth Management LLC acquired a new stake in shares of AbbVie during the fourth quarter worth about $27,000. Finally, Red Tortoise LLC purchased a new position in shares of AbbVie in the fourth quarter valued at approximately $27,000. 67.71% of the stock is currently owned by institutional investors and hedge funds.

AbbVie Stock Down 0.1 %

ABBV stock opened at $144.90 on Tuesday. AbbVie has a one year low of $134.09 and a one year high of $168.11. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.82 and a current ratio of 0.96. The firm’s fifty day moving average is $155.00 and its 200 day moving average is $155.09. The firm has a market cap of $255.65 billion, a PE ratio of 34.26, a P/E/G ratio of 2.64 and a beta of 0.58.

AbbVie (NYSE:ABBV – Get Rating) last posted its earnings results on Thursday, April 27th. The company reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.02. The firm had revenue of $12.23 billion for the quarter, compared to analysts’ expectations of $12.23 billion. AbbVie had a return on equity of 153.92% and a net margin of 13.37%. The company’s quarterly revenue was down 9.7% on a year-over-year basis. During the same period last year, the firm earned $3.16 EPS. On average, research analysts forecast that AbbVie will post 10.97 EPS for the current year.

About AbbVie

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AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.