AbbVie (NYSE:ABBV) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Wednesday. The brokerage presently has a $113.08 price objective on the stock. Vetr‘s price objective indicates a potential upside of 15.49% from the company’s current price.
ABBV has been the subject of a number of other reports. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Tuesday, October 17th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Goldman Sachs Group reiterated a “buy” rating and set a $100.00 target price (up from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Deutsche Bank boosted their target price on shares of AbbVie to $88.00 and gave the company a “hold” rating in a research note on Thursday, September 28th. Finally, Jefferies Group reiterated a “buy” rating and set a $107.00 target price (up from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $100.26.
AbbVie (NYSE:ABBV) opened at $97.91 on Wednesday. The stock has a market capitalization of $155,508.25, a P/E ratio of 18.34, a P/E/G ratio of 1.35 and a beta of 1.52. AbbVie has a 12-month low of $59.27 and a 12-month 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 news, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Insiders sold a total of 501,375 shares of company stock valued at $47,827,450 over the last 90 days. 0.23% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC increased its stake in AbbVie by 5.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,418,955 shares of the company’s stock worth $303,808,000 after buying an additional 188,933 shares in the last quarter. Shelton Capital Management increased its stake in AbbVie by 59.6% in the 3rd quarter. Shelton Capital Management now owns 127,799 shares of the company’s stock worth $11,356,000 after buying an additional 47,700 shares in the last quarter. GSB Wealth Management LLC bought a new position in shares of AbbVie during the 3rd quarter valued at about $240,000. Steward Partners Investment Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter valued at about $5,754,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of AbbVie by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,101,377 shares of the company’s stock valued at $97,868,000 after purchasing an additional 4,028 shares during the last quarter. Institutional investors and hedge funds own 69.18% of the company’s stock.
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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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