Daiwa Capital Markets Downgrades AbbVie (NYSE:ABBV) to Neutral

AbbVie (NYSE:ABBV) was downgraded by analysts at Daiwa Capital Markets from an “outperform” rating to a “neutral” rating in a research report issued on Thursday, MarketBeat reports. They currently have a $180.00 target price on the stock. Daiwa Capital Markets’ target price points to a potential upside of 2.17% from the company’s previous close.

Several other research firms have also recently issued reports on ABBV. Leerink Partnrs upgraded AbbVie from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Argus upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Citigroup lowered their target price on shares of AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Leerink Partners upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $206.00 price target for the company in a research report on Friday, November 22nd. Finally, BMO Capital Markets dropped their price objective on AbbVie from $228.00 to $208.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.38.

AbbVie Stock Up 0.0 %

Shares of AbbVie stock opened at $176.18 on Thursday. The company has a market cap of $311.33 billion, a P/E ratio of 61.17, a PEG ratio of 2.08 and a beta of 0.58. The firm has a fifty day moving average of $187.14 and a two-hundred day moving average of $182.17. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. AbbVie has a one year low of $145.20 and a one year high of $207.32.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.28 billion. During the same quarter last year, the firm earned $2.95 earnings per share. The firm’s revenue was up 3.8% compared to the same quarter last year. On average, analysts forecast that AbbVie will post 10.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Oddo BHF Asset Management Sas acquired a new stake in shares of AbbVie in the third quarter worth approximately $4,768,000. Beaird Harris Wealth Management LLC raised its stake in AbbVie by 32.8% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,732 shares of the company’s stock worth $539,000 after purchasing an additional 675 shares during the period. American Trust boosted its holdings in shares of AbbVie by 3.4% in the 3rd quarter. American Trust now owns 6,691 shares of the company’s stock valued at $1,321,000 after purchasing an additional 223 shares during the last quarter. Old North State Trust LLC grew its stake in shares of AbbVie by 1.3% during the 3rd quarter. Old North State Trust LLC now owns 7,432 shares of the company’s stock valued at $1,468,000 after buying an additional 95 shares during the period. Finally, Peapack Gladstone Financial Corp raised its position in shares of AbbVie by 5.4% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 209,463 shares of the company’s stock worth $41,364,000 after buying an additional 10,697 shares during the period. Hedge funds and other institutional investors own 70.23% of the company’s stock.

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.