AbbVie (NYSE:ABBV) Price Target Raised to $250.00 at Morgan Stanley

AbbVie (NYSE:ABBV - Get Free Report) had its target price upped by equities research analysts at Morgan Stanley from $241.00 to $250.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's target price indicates a potential upside of 32.03% from the stock's previous close.

ABBV has been the topic of several other reports. Erste Group Bank upgraded AbbVie to a "strong-buy" rating in a research note on Monday, March 17th. Raymond James reaffirmed an "outperform" rating and issued a $220.00 price objective (up previously from $218.00) on shares of AbbVie in a research note on Monday, February 3rd. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the stock an "outperform" rating in a research note on Monday, February 3rd. Guggenheim reiterated a "buy" rating and set a $214.00 price target on shares of AbbVie in a report on Thursday, April 17th. Finally, UBS Group upped their price target on shares of AbbVie from $181.00 to $190.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.62.

AbbVie Stock Up 1.8 %

AbbVie stock opened at $189.36 on Monday. The company's 50-day moving average price is $196.85 and its two-hundred day moving average price is $187.13. AbbVie has a twelve month low of $153.58 and a twelve month high of $218.66. The stock has a market cap of $334.97 billion, a P/E ratio of 79.04, 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 (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, April 25th. The company reported $2.46 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.05). The business had revenue of $13.34 billion for 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%. During the same quarter in the previous year, the company earned $2.31 earnings per share. As a group, analysts expect that AbbVie will post 12.31 EPS for the current year.

Insider Buying and Selling at AbbVie

In other AbbVie news, EVP Jeffrey Ryan Stewart sold 58,832 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $210.08, for a total transaction 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 $11,183,398.72. The trade was a 52.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Perry C. Siatis sold 5,778 shares of the 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 completion of the transaction, the executive vice president now owns 22,381 shares in the company, valued at approximately $4,429,199.90. The trade was a 20.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 113,471 shares of company stock worth $23,426,451 in the last ninety days. 0.25% of the stock is owned by insiders.

Institutional Trading of AbbVie

Several institutional investors and hedge funds have recently bought and sold shares of ABBV. Sageworth Trust Co lifted its holdings in shares of AbbVie by 0.3% in the 1st quarter. Sageworth Trust Co now owns 22,009 shares of the company's stock valued at $4,611,000 after buying an additional 59 shares during the period. Summit Trail Advisors LLC lifted its position in shares of AbbVie by 22.2% in the first quarter. Summit Trail Advisors LLC now owns 36,020 shares of the company's stock valued at $7,547,000 after acquiring an additional 6,544 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of AbbVie by 5.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 272,830 shares of the company's stock worth $57,163,000 after purchasing an additional 13,560 shares during the last quarter. Clear Creek Financial Management LLC grew its stake in AbbVie by 12.3% in the 1st quarter. Clear Creek Financial Management LLC now owns 4,384 shares of the company's stock worth $918,000 after acquiring an additional 480 shares during the period. Finally, Cidel Asset Management Inc. raised its holdings in AbbVie by 1.5% in the 1st quarter. Cidel Asset Management Inc. now owns 7,299 shares of the company's stock valued at $1,529,000 after acquiring an additional 105 shares during the last quarter. 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.

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