AbbVie (NYSE:ABBV) Coverage Initiated by Analysts at Cantor Fitzgerald

Equities research analysts at Cantor Fitzgerald began coverage on shares of AbbVie (NYSE:ABBV - Get Free Report) in a research note issued on Tuesday, MarketBeat.com reports. The brokerage set an "overweight" rating and a $210.00 price target on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 12.93% from the company's previous close. Cantor Fitzgerald also issued estimates for AbbVie's FY2025 earnings at $12.33 EPS.

Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group reissued a "neutral" rating and issued a $194.00 price objective on shares of AbbVie in a research report on Tuesday, April 8th. Citigroup increased their price objective on AbbVie from $205.00 to $215.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. UBS Group raised their price objective on AbbVie from $181.00 to $190.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Raymond James reaffirmed an "outperform" rating and issued a $220.00 price objective (up from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. Finally, Erste Group Bank upgraded shares of AbbVie to a "strong-buy" rating in a report on Monday, March 17th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.19.

AbbVie Trading Up 3.1 %

Shares of ABBV traded up $5.59 during midday trading on Tuesday, hitting $185.96. The stock had a trading volume of 10,480,961 shares, compared to its average volume of 6,061,975. The stock's 50 day moving average is $197.05 and its 200 day moving average is $187.28. The firm has a market cap of $328.96 billion, a PE ratio of 77.48, a price-to-earnings-growth ratio of 1.62 and a beta of 0.55. The company has a debt-to-equity ratio of 17.94, a current ratio of 0.66 and a quick ratio of 0.55. AbbVie has a 1 year low of $153.58 and a 1 year high of $218.66.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.05). The firm had revenue of $13.34 billion during the quarter, compared to the consensus estimate of $12.91 billion. AbbVie had a return on equity of 296.28% and a net margin of 7.59%. As a group, analysts forecast that AbbVie will post 12.31 EPS for the current fiscal year.

Insider Activity

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the company's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $210.08, for a total value of $12,359,426.56. Following the completion of the transaction, the executive vice president now owns 53,234 shares in the company, valued at approximately $11,183,398.72. This represents a 52.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Perry C. Siatis sold 5,778 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $197.90, for a total value of $1,143,466.20. Following the sale, the executive vice president now owns 22,381 shares in the company, valued at $4,429,199.90. This trade represents a 20.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,471 shares of company stock valued at $23,426,451 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AbbVie

A number of hedge funds have recently bought and sold shares of ABBV. Fiduciary Advisors Inc. purchased a new stake in AbbVie in the 4th quarter worth $29,000. EnRich Financial Partners LLC grew its position in shares of AbbVie by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 166 shares of the company's stock valued at $29,000 after purchasing an additional 110 shares during the period. Promus Capital LLC purchased a new stake in shares of AbbVie during the fourth quarter worth about $30,000. Bradley & Co. Private Wealth Management LLC purchased a new position in AbbVie in the 4th quarter valued at about $31,000. Finally, Prudent Man Investment Management Inc. purchased a new position in AbbVie in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 70.23% of the company's stock.

AbbVie Company Profile

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.