AbbVie (NYSE:ABBV) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Research analysts at Deutsche Bank Aktiengesellschaft initiated coverage on shares of AbbVie (NYSE:ABBV) in a research note issued on Thursday, Marketbeat Ratings reports. The firm set a “hold” rating and a $150.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 8.23% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Piper Sandler increased their price objective on shares of AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, July 28th. Morgan Stanley boosted their price objective on AbbVie from $193.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Piper Sandler Companies increased their target price on AbbVie from $163.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. HSBC initiated coverage on AbbVie in a report on Friday, July 14th. They set a “buy” rating and a $167.00 price target on the stock. Finally, Barclays upgraded shares of AbbVie from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $160.00 to $170.00 in a research report on Monday, October 30th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $167.69.

AbbVie Price Performance

Shares of NYSE ABBV opened at $138.59 on Thursday. The business has a fifty day moving average price of $147.52 and a two-hundred day moving average price of $144.66. The stock has a market capitalization of $244.69 billion, a PE ratio of 37.97, a P/E/G ratio of 2.53 and a beta of 0.51. The company has a debt-to-equity ratio of 4.59, a current ratio of 0.96 and a quick ratio of 0.77. AbbVie has a fifty-two week low of $130.96 and a fifty-two week high of $168.11.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $2.95 EPS for the quarter, beating the consensus estimate of $2.86 by $0.09. The firm had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.72 billion. AbbVie had a net margin of 11.81% and a return on equity of 152.70%. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm earned $3.66 EPS. As a group, equities analysts predict that AbbVie will post 11.24 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ABBV. Goepper Burkhardt LLC lifted its stake in AbbVie by 1.9% in the 4th quarter. Goepper Burkhardt LLC now owns 3,506 shares of the company’s stock valued at $567,000 after buying an additional 67 shares in the last quarter. Vantage Consulting Group Inc lifted its stake in AbbVie by 4.2% in the 2nd quarter. Vantage Consulting Group Inc now owns 1,667 shares of the company’s stock valued at $225,000 after buying an additional 67 shares in the last quarter. Syntax Advisors LLC lifted its stake in AbbVie by 4.2% in the 2nd quarter. Syntax Advisors LLC now owns 1,667 shares of the company’s stock valued at $225,000 after buying an additional 67 shares in the last quarter. Sand Hill Global Advisors LLC lifted its stake in AbbVie by 0.4% in the 1st quarter. Sand Hill Global Advisors LLC now owns 18,755 shares of the company’s stock valued at $2,989,000 after buying an additional 68 shares in the last quarter. Finally, Clearwater Capital Advisors LLC lifted its stake in AbbVie by 3.9% in the 3rd quarter. Clearwater Capital Advisors LLC now owns 1,859 shares of the company’s stock valued at $277,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 67.86% of the company’s stock.

About AbbVie

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, a therapy administered as an injection for autoimmune, intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq, a JAK inhibitor to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, and ulcerative colitis; Imbruvica for the treatment of adult patients with blood cancers; and Venclexta/Venclyxto to treat hematological malignancies.