AbbVie (NYSE:ABBV) Trading 0.3% Higher – Time to Buy?

AbbVie Inc. (NYSE:ABBV) shares were up 0.3% during trading on Tuesday . The stock traded as high as $190.63 and last traded at $190.92. Approximately 678,474 shares traded hands during trading, a decline of 89% from the average daily volume of 5,951,273 shares. The stock had previously closed at $190.34.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ABBV shares. Citigroup increased their price target on AbbVie from $205.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Bank of America reissued a “neutral” rating and set a $191.00 target price on shares of AbbVie in a research report on Tuesday, December 10th. Wolfe Research initiated coverage on shares of AbbVie in a research note on Friday, November 15th. They issued an “outperform” rating and a $205.00 price objective on the stock. Truist Financial lifted their target price on shares of AbbVie from $211.00 to $217.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, AbbVie has an average rating of “Moderate Buy” and a consensus target price of $208.35.

AbbVie Price Performance

The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The business’s fifty day moving average price is $177.71 and its 200-day moving average price is $185.81. The stock has a market capitalization of $338.89 billion, a price-to-earnings ratio of 79.86, a PEG ratio of 1.53 and a beta of 0.58.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data 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 company earned $2.79 earnings per share. On average, research analysts forecast that AbbVie Inc. will post 12.32 EPS for the current year.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the sale, the senior vice president now directly 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 can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On AbbVie

A number of hedge funds have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the third quarter valued at about $28,000. Fiduciary Advisors Inc. bought a new stake in shares of AbbVie in the 4th quarter worth approximately $29,000. Promus Capital LLC bought a new position in AbbVie during the fourth quarter valued at $30,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in AbbVie in the fourth quarter worth $31,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in AbbVie in the fourth quarter worth $35,000. 70.23% of the stock is currently 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.