AbbVie (NYSE:ABBV) Stock Price Up 0.5% – What’s Next?

AbbVie Inc. (NYSE:ABBV)’s stock price shot up 0.5% during mid-day trading on Thursday . The stock traded as high as $194.28 and last traded at $193.89. 864,647 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 5,841,061 shares. The stock had previously closed at $193.00.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ABBV. Sanford C. Bernstein began coverage on AbbVie in a research report on Thursday, October 17th. They issued a “market perform” rating and a $203.00 target price for the company. JPMorgan Chase & Co. cut their price target on AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company increased their target price on AbbVie from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Daiwa America cut AbbVie from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Morgan Stanley increased their price target on AbbVie from $224.00 to $239.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, AbbVie has an average rating of “Moderate Buy” and an average price target of $208.35.

AbbVie Trading Up 0.4 %

The stock has a market cap of $342.50 billion, a PE ratio of 80.76, a price-to-earnings-growth ratio of 1.53 and a beta of 0.58. The stock has a 50-day moving average price of $178.24 and a two-hundred day moving average price of $185.91. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 31st. The company reported $2.16 EPS for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 257.91% and a net margin of 7.59%. During the same period in the previous year, the business posted $2.79 earnings per share. Sell-side analysts forecast that AbbVie Inc. will post 12.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Monetary Management Group Inc. boosted its position in shares of AbbVie by 0.3% during the fourth quarter. Monetary Management Group Inc. now owns 36,615 shares of the company’s stock valued at $6,506,000 after buying an additional 100 shares during the period. Heritage Trust Co purchased a new position in shares of AbbVie during the fourth quarter valued at approximately $16,607,000. Prepared Retirement Institute LLC boosted its position in shares of AbbVie by 1.2% during the fourth quarter. Prepared Retirement Institute LLC now owns 6,860 shares of the company’s stock valued at $1,219,000 after buying an additional 81 shares during the period. Jaffetilchin Investment Partners LLC boosted its position in shares of AbbVie by 6.1% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 9,481 shares of the company’s stock valued at $1,685,000 after buying an additional 543 shares during the period. Finally, Eley Financial Management Inc raised its stake in shares of AbbVie by 1.8% during the fourth quarter. Eley Financial Management Inc now owns 5,472 shares of the company’s stock valued at $972,000 after acquiring an additional 95 shares in the last quarter. Hedge funds and other institutional investors own 70.23% of the company’s stock.

AbbVie Company Profile

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.