AbbVie (NYSE:ABBV) received a $95.00 price objective from investment analysts at BMO Capital Markets in a research note issued on Wednesday. The brokerage presently has a “sell” rating on the stock. BMO Capital Markets’ price objective indicates a potential downside of 19.19% from the company’s current price.
A number of other research firms have also issued reports on ABBV. Credit Suisse Group set a $135.00 price objective on AbbVie and gave the company a “hold” rating in a research report on Monday, January 29th. Societe Generale boosted their price objective on AbbVie in a research report on Tuesday, November 21st. Leerink Swann lowered AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price objective for the company. in a research report on Monday, January 29th. Jefferies Group boosted their price objective on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, ValuEngine lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $118.44.
AbbVie (ABBV) opened at $117.56 on Wednesday. The company has a market capitalization of $187,680.00, a P/E ratio of 35.62, a PEG ratio of 1.12 and a beta of 1.61. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie has a 12-month low of $61.45 and a 12-month high of $125.86.
AbbVie announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 15th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The disclosure for this sale can be found here. Insiders have sold a total of 233,542 shares of company stock worth $22,760,708 in the last ninety days. 0.23% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of ABBV. Jennison Associates LLC acquired a new stake in shares of AbbVie during the third quarter worth $544,418,000. Capital International Investors raised its position in shares of AbbVie by 137.7% during the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after purchasing an additional 4,550,954 shares during the period. Vanguard Group Inc. raised its position in shares of AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares during the period. Janus Henderson Group PLC raised its position in shares of AbbVie by 1,949.7% during the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after purchasing an additional 3,646,510 shares during the period. Finally, Orbis Allan Gray Ltd raised its position in shares of AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares during the period. 69.49% of the stock is currently owned by institutional investors.
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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