AbbVie (NYSE:ABBV) Given New $180.00 Price Target at BMO Capital Markets

AbbVie (NYSE:ABBV) had its price target dropped by investment analysts at BMO Capital Markets from $195.00 to $180.00 in a research note issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 12.25% from the company’s current price.

A number of other analysts have also weighed in on the stock. Truist Financial increased their target price on shares of AbbVie from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Barclays raised their price target on shares of AbbVie from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. William Blair raised shares of AbbVie from a “market perform” rating to an “outperform” rating in a research report on Monday, January 29th. Guggenheim raised their target price on shares of AbbVie from $188.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Raymond James raised their target price on shares of AbbVie from $181.00 to $189.00 and gave the stock an “outperform” rating in a report on Monday, February 5th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.92.

AbbVie Stock Performance

AbbVie stock traded up $0.73 during trading on Monday, hitting $160.35. The stock had a trading volume of 827,252 shares, compared to its average volume of 5,595,183. AbbVie has a 1 year low of $130.96 and a 1 year high of $182.89. The company has a quick ratio of 0.76, a current ratio of 0.87 and a debt-to-equity ratio of 5.02. The stock’s 50 day moving average is $174.59 and its two-hundred day moving average is $160.90. The stock has a market cap of $283.92 billion, a price-to-earnings ratio of 47.58, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, April 26th. The company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. AbbVie had a return on equity of 165.18% and a net margin of 11.02%. The company had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same quarter last year, the business posted $2.46 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. As a group, analysts predict that AbbVie will post 11.19 EPS for the current year.

Insider Transactions at AbbVie

In other AbbVie news, SVP Kevin K. Buckbee sold 5,144 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at approximately $1,233,546.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Scott T. Reents sold 14,140 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $177.44, for a total transaction of $2,509,001.60. Following the sale, the chief financial officer now directly owns 27,065 shares of the company’s stock, valued at approximately $4,802,413.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Kevin K. Buckbee sold 5,144 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $176.65, for a total value of $908,687.60. Following the sale, the senior vice president now directly owns 6,983 shares in the company, valued at $1,233,546.95. The disclosure for this sale can be found here. Insiders have sold a total of 383,324 shares of company stock worth $67,780,003 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of AbbVie

Several large investors have recently modified their holdings of ABBV. Vanguard Group Inc. raised its position in AbbVie by 0.9% in the third quarter. Vanguard Group Inc. now owns 160,747,355 shares of the company’s stock valued at $23,961,001,000 after purchasing an additional 1,450,089 shares during the last quarter. Capital International Investors increased its position in shares of AbbVie by 6.0% during the fourth quarter. Capital International Investors now owns 44,988,183 shares of the company’s stock worth $6,971,796,000 after buying an additional 2,542,463 shares during the period. Morgan Stanley increased its position in shares of AbbVie by 2.9% during the third quarter. Morgan Stanley now owns 32,175,527 shares of the company’s stock worth $4,796,085,000 after buying an additional 914,485 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of AbbVie by 7.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,451,975 shares of the company’s stock worth $3,774,569,000 after buying an additional 1,702,415 shares during the period. Finally, Northern Trust Corp increased its position in shares of AbbVie by 2.3% during the third quarter. Northern Trust Corp now owns 21,936,279 shares of the company’s stock worth $3,269,822,000 after buying an additional 491,391 shares during the period. 70.23% of the stock is owned by institutional investors and hedge funds.

About AbbVie

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.