The Goldman Sachs Group Reiterates Neutral Rating for AbbVie (NYSE:ABBV)

AbbVie (NYSE:ABBV - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at The Goldman Sachs Group in a report released on Tuesday, MarketBeat.com reports. They presently have a $194.00 price objective on the stock. The Goldman Sachs Group's target price points to a potential upside of 10.92% from the stock's current price.

Several other equities research analysts have also commented on ABBV. Wells Fargo & Company boosted their target price on shares of AbbVie from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Piper Sandler Companies restated an "overweight" rating and set a $220.00 target price on shares of AbbVie in a research report on Tuesday, December 17th. Truist Financial lifted their price target on shares of AbbVie from $211.00 to $217.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Piper Sandler raised their price objective on AbbVie from $212.00 to $220.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, Morgan Stanley upped their target price on AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $210.71.

AbbVie Stock Performance

NYSE:ABBV traded up $0.70 during midday trading on Tuesday, reaching $174.90. The stock had a trading volume of 9,046,010 shares, compared to its average volume of 5,951,388. The stock has a market cap of $309.39 billion, a P/E ratio of 72.87, a P/E/G ratio of 1.62 and a beta of 0.55. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. AbbVie has a 12-month low of $153.58 and a 12-month high of $218.66. The firm has a fifty day simple moving average of $200.16 and a two-hundred day simple moving average of $188.49.

AbbVie (NYSE:ABBV - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter in the previous year, the firm earned $2.79 EPS. On average, equities analysts expect that AbbVie will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Perry C. Siatis sold 5,778 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $197.90, for a total value of $1,143,466.20. Following the transaction, the executive vice president now directly owns 22,381 shares of the company's stock, valued at $4,429,199.90. This represents a 20.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Timothy J. Richmond sold 29,917 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now directly owns 44,284 shares of the company's stock, valued at $8,985,223.60. The trade was a 40.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,471 shares of company stock valued at $23,426,451 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of AbbVie

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC lifted its stake in shares of AbbVie by 30.4% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 223 shares of the company's stock worth $40,000 after acquiring an additional 52 shares during the period. Steel Grove Capital Advisors LLC lifted its position in shares of AbbVie by 1.7% in the 4th quarter. Steel Grove Capital Advisors LLC now owns 3,110 shares of the company's stock worth $553,000 after purchasing an additional 52 shares during the period. Peninsula Wealth LLC boosted its stake in shares of AbbVie by 4.1% in the 4th quarter. Peninsula Wealth LLC now owns 1,360 shares of the company's stock valued at $242,000 after purchasing an additional 54 shares during the last quarter. Physicians Financial Services Inc. boosted its stake in shares of AbbVie by 0.5% in the 4th quarter. Physicians Financial Services Inc. now owns 12,150 shares of the company's stock valued at $2,159,000 after purchasing an additional 55 shares during the last quarter. Finally, Connecticut Wealth Management LLC increased its position in shares of AbbVie by 1.6% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,711 shares of the company's stock worth $660,000 after buying an additional 57 shares during the period. 70.23% of the stock is owned by institutional investors.

About AbbVie

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.