AbbVie (NYSE:ABBV) Now Covered by Analysts at Wolfe Research

by · The Markets Daily

Equities researchers at Wolfe Research began coverage on shares of AbbVie (NYSE:ABBV – Get Free Report) in a research report issued on Friday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $205.00 price target on the stock. Wolfe Research’s price target indicates a potential upside of 20.85% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of AbbVie in a research note on Monday, August 5th. Piper Sandler lifted their price target on shares of AbbVie from $196.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their price objective on shares of AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. TD Cowen upped their target price on shares of AbbVie from $195.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Citigroup decreased their price objective on AbbVie from $226.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AbbVie presently has an average rating of “Moderate Buy” and a consensus target price of $203.89.

Get Our Latest Research Report on ABBV

AbbVie Stock Performance

Shares of ABBV opened at $169.63 on Friday. The firm has a market cap of $299.76 billion, a price-to-earnings ratio of 58.90, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63. AbbVie has a 12 month low of $136.30 and a 12 month high of $207.32. The company’s fifty day moving average is $193.08 and its 200-day moving average is $180.84. The company has a quick ratio of 0.54, a current ratio of 0.65 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.92 by $0.08. The company had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.95 EPS. Equities analysts expect that AbbVie will post 10.95 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at approximately $28,000. Fairway Wealth LLC bought a new position in AbbVie in the second quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of AbbVie in the second quarter valued at approximately $27,000. Marquette Asset Management LLC bought a new stake in shares of AbbVie during the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. lifted its position in AbbVie by 100.0% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.

About AbbVie

(Get Free Report)

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.

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