AbbVie (NYSE:ABBV) Given New $205.00 Price Target at Citigroup

AbbVie (NYSE:ABBV) had its target price dropped by stock analysts at Citigroup from $215.00 to $205.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 15.89% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Bank of America restated a “neutral” rating and issued a $191.00 target price on shares of AbbVie in a report on Tuesday, December 10th. Leerink Partners raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price objective for the company in a research note on Friday, November 22nd. Barclays lifted their target price on shares of AbbVie from $200.00 to $212.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Leerink Partnrs raised shares of AbbVie from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.00.

AbbVie Stock Up 3.9 %

Shares of ABBV stock opened at $176.90 on Tuesday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market cap of $312.60 billion, a PE ratio of 61.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.58. The business’s fifty day moving average is $175.84 and its 200-day moving average is $184.89. AbbVie has a 1 year low of $153.58 and a 1 year high of $207.32.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.95 EPS. Equities analysts expect that AbbVie will post 10.06 earnings per share for the current fiscal year.

Insider Transactions at AbbVie

In other news, SVP Kevin K. Buckbee sold 1,800 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total value of $310,032.00. Following the sale, the senior vice president now owns 6,983 shares in the company, valued at approximately $1,202,751.92. This trade represents a 20.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of AbbVie

A number of hedge funds have recently bought and sold shares of the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie during the third quarter valued at about $28,000. Fiduciary Advisors Inc. bought a new position in AbbVie during the fourth quarter valued at about $29,000. Retirement Wealth Solutions LLC acquired a new position in AbbVie in the 4th quarter valued at approximately $35,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. grew its holdings in shares of AbbVie by 100.0% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock worth $39,000 after purchasing an additional 100 shares in the last quarter. 70.23% of the stock is owned by institutional investors.

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.