AbbVie (NYSE:ABBV – Free Report) had its price target raised by Piper Sandler from $185.00 to $190.00 in a research report sent to investors on Tuesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.
Other research analysts also recently issued reports about the stock. HSBC upgraded shares of AbbVie from a hold rating to a buy rating and set a $185.00 price target on the stock in a research report on Wednesday, June 5th. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the stock a buy rating in a research report on Friday, March 22nd. BMO Capital Markets decreased their price target on shares of AbbVie from $195.00 to $180.00 and set an outperform rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald started coverage on shares of AbbVie in a research report on Friday, May 17th. They set an overweight rating and a $200.00 price objective on the stock. Finally, Barclays decreased their price objective on shares of AbbVie from $195.00 to $187.00 and set an overweight rating on the stock in a research report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, AbbVie presently has an average rating of Moderate Buy and an average target price of $179.64.
Read Our Latest Report on AbbVie
AbbVie Trading Up 1.0 %
AbbVie (NYSE:ABBV – Get Free Report) last released its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.05. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business had revenue of $12.31 billion for the quarter, compared to the consensus estimate of $11.93 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s quarterly revenue was up .7% on a year-over-year basis. Research analysts expect that AbbVie will post 11.26 earnings per share for the current year.
Institutional Trading of AbbVie
A number of institutional investors and hedge funds have recently bought and sold shares of ABBV. Vermillion & White Wealth Management Group LLC bought a new stake in AbbVie in the 4th quarter valued at $26,000. Able Wealth Management LLC purchased a new position in shares of AbbVie in the 4th quarter worth $33,000. IFS Advisors LLC purchased a new position in shares of AbbVie in the 1st quarter worth $36,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of AbbVie in the 4th quarter worth $37,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of AbbVie in the 1st quarter worth $37,000. 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.
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