Cantor Fitzgerald Begins Coverage on AbbVie (NYSE:ABBV)

Cantor Fitzgerald initiated coverage on shares of AbbVie (NYSE:ABBVFree Report) in a research note released on Friday, MarketBeat.com reports. The brokerage issued an overweight rating and a $200.00 target price on the stock.

ABBV has been the topic of several other reports. Guggenheim increased their price target on shares of AbbVie from $188.00 to $190.00 and gave the company a buy rating in a research report on Friday, March 22nd. BMO Capital Markets dropped their price target on AbbVie from $195.00 to $180.00 and set an outperform rating for the company in a research report on Monday, April 29th. Barclays reduced their price objective on AbbVie from $195.00 to $187.00 and set an overweight rating on the stock in a research report on Monday, April 29th. Truist Financial boosted their target price on shares of AbbVie from $180.00 to $195.00 and gave the company a buy rating in a research note on Tuesday, February 6th. Finally, William Blair raised shares of AbbVie from a market perform rating to an outperform rating in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $176.14.

Check Out Our Latest Research Report on ABBV

AbbVie Trading Down 1.1 %

Shares of ABBV stock opened at $164.62 on Friday. The business’s fifty day moving average price is $169.58 and its 200 day moving average price is $162.85. The firm has a market capitalization of $290.70 billion, a PE ratio of 48.85, a P/E/G ratio of 2.10 and a beta of 0.61. The company has a debt-to-equity ratio of 7.93, a current ratio of 0.94 and a quick ratio of 0.83. AbbVie has a 1-year low of $130.96 and a 1-year high of $182.89.

AbbVie (NYSE:ABBVGet Free Report) last posted its quarterly earnings results on Friday, May 3rd. The company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.05. The business had revenue of $12.31 billion for the quarter, compared to analysts’ expectations of $11.93 billion. AbbVie had a net margin of 11.02% and a return on equity of 179.47%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the company posted $2.46 EPS. As a group, sell-side analysts forecast that AbbVie will post 11.27 EPS for the current fiscal year.

Insider Transactions at AbbVie

In related news, EVP Azita Saleki-Gerhardt sold 52,870 shares of AbbVie stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total transaction of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AbbVie news, EVP Azita Saleki-Gerhardt sold 52,870 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $173.71, for a total value of $9,184,047.70. Following the transaction, the executive vice president now owns 243,944 shares in the company, valued at approximately $42,375,512.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott T. Reents sold 14,140 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $177.44, for a total value of $2,509,001.60. Following the sale, the chief financial officer now owns 27,065 shares of the company’s stock, valued at $4,802,413.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,324 shares of company stock worth $67,780,003. 0.25% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Lokken Investment Group LLC increased its holdings in AbbVie by 3.6% in the fourth quarter. Lokken Investment Group LLC now owns 1,666 shares of the company’s stock valued at $258,000 after buying an additional 58 shares during the last quarter. Arcadia Investment Management Corp MI boosted its holdings in shares of AbbVie by 0.6% in the 1st quarter. Arcadia Investment Management Corp MI now owns 9,371 shares of the company’s stock valued at $1,706,000 after buying an additional 59 shares during the period. Aspen Wealth Strategies LLC grew its position in shares of AbbVie by 0.5% during the 4th quarter. Aspen Wealth Strategies LLC now owns 11,463 shares of the company’s stock valued at $1,776,000 after buying an additional 61 shares during the last quarter. Marks Group Wealth Management Inc raised its stake in AbbVie by 2.9% during the fourth quarter. Marks Group Wealth Management Inc now owns 2,254 shares of the company’s stock worth $349,000 after acquiring an additional 63 shares during the period. Finally, Spinnaker Investment Group LLC boosted its stake in AbbVie by 1.6% in the first quarter. Spinnaker Investment Group LLC now owns 4,068 shares of the company’s stock valued at $741,000 after acquiring an additional 64 shares during the period. 70.23% of the stock is currently owned by institutional investors.

AbbVie Company Profile

(Get Free Report)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Beh├žet'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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Analyst Recommendations for AbbVie (NYSE:ABBV)

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