AbbVie (NYSE:ABBV) Stock Rating Lowered by Daiwa America

AbbVie (NYSE:ABBV - Get Free Report) was downgraded by equities researchers at Daiwa America from a "strong-buy" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts also recently commented on ABBV. TD Cowen raised their price objective on shares of AbbVie from $195.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, October 7th. Truist Financial boosted their target price on AbbVie from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, October 10th. Leerink Partners upgraded AbbVie from a "market perform" rating to an "outperform" rating and set a $206.00 price objective on the stock in a report on Friday, November 22nd. William Blair upgraded AbbVie to a "strong-buy" rating in a report on Friday, August 30th. Finally, UBS Group increased their price objective on shares of AbbVie from $195.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $202.38.

AbbVie Trading Up 0.0 %

ABBV stock traded up $0.01 during midday trading on Thursday, hitting $176.18. The stock had a trading volume of 4,834,715 shares, compared to its average volume of 5,529,813. The firm has a market cap of $311.33 billion, a PE ratio of 61.17, a price-to-earnings-growth ratio of 2.08 and a beta of 0.58. The company's 50-day moving average price is $187.14 and its 200 day moving average price is $182.17. AbbVie has a 12-month low of $145.20 and a 12-month high of $207.32. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54.

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

Institutional Trading of AbbVie

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in AbbVie by 1.6% in the 3rd quarter. State Street Corp now owns 79,067,935 shares of the company's stock worth $15,614,329,000 after purchasing an additional 1,267,685 shares in the last quarter. Legal & General Group Plc raised its position in shares of AbbVie by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 15,277,480 shares of the company's stock worth $2,620,382,000 after acquiring an additional 134,239 shares in the last quarter. FMR LLC boosted its stake in AbbVie by 3.9% in the third quarter. FMR LLC now owns 13,630,404 shares of the company's stock valued at $2,691,732,000 after acquiring an additional 511,470 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AbbVie by 6.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,175,926 shares of the company's stock valued at $2,009,542,000 after acquiring an additional 582,953 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in AbbVie by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,330,779 shares of the company's stock worth $1,842,642,000 after acquiring an additional 373,802 shares during the period. 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.