AbbVie (ABBV) Given a $84.00 Price Target by BMO Capital Markets Analysts
AbbVie (NYSE:ABBV) received a $84.00 price target from BMO Capital Markets in a report issued on Wednesday. The firm currently has a “hold” rating on the stock. BMO Capital Markets’ target price suggests a potential downside of 14.22% from the stock’s current price.
Several other brokerages have also issued reports on ABBV. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Friday, October 20th. ValuEngine lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Leerink Swann set a $106.00 price objective on AbbVie and gave the stock a “buy” rating in a report on Tuesday, December 5th. Finally, Societe Generale increased their price objective on AbbVie in a report on Tuesday, November 21st. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. AbbVie presently has a consensus rating of “Buy” and an average price target of $97.96.
AbbVie (NYSE ABBV) traded down $0.27 on Wednesday, hitting $97.92. The stock had a trading volume of 2,817,600 shares, compared to its average volume of 6,089,547. The stock has a market capitalization of $156,753.45, a price-to-earnings ratio of 18.49, a P/E/G ratio of 1.37 and a beta of 1.52. AbbVie has a one year low of $59.27 and a one year high of $99.10. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares in the company, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 501,375 shares of company stock worth $47,827,450 over the last three months. Company insiders own 0.23% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ABBV. Savant Capital LLC grew its position in shares of AbbVie by 1.3% in the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after purchasing an additional 793 shares during the last quarter. Princeton Capital Management Inc. acquired a new stake in shares of AbbVie in the second quarter valued at about $1,394,000. Accident Compensation Corp grew its position in shares of AbbVie by 24.7% in the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after purchasing an additional 13,100 shares during the last quarter. Investec Asset Management LTD lifted its stake in shares of AbbVie by 3.6% in the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock valued at $10,880,000 after buying an additional 5,801 shares during the period. Finally, Palisade Asset Management LLC lifted its stake in shares of AbbVie by 17.9% in the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after buying an additional 10,381 shares during the period. 69.18% of the stock is currently owned by hedge funds and other institutional investors.
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AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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