AbbVie (NYSE:ABBV) Given "Overweight" Rating at Piper Sandler Companies

AbbVie (NYSE:ABBV - Get Free Report)'s stock had its "overweight" rating restated by investment analysts at Piper Sandler Companies in a research note issued on Tuesday, Stock Target Advisor reports. They presently have a $220.00 price objective on the stock. Piper Sandler Companies' price target points to a potential upside of 25.41% from the stock's current price.

Other analysts also recently issued research reports about the company. Bank of America reissued a "neutral" rating and issued a $191.00 price target on shares of AbbVie in a research note on Tuesday, December 10th. BMO Capital Markets reduced their price objective on shares of AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a research note on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 13th. Citigroup reduced their price target on AbbVie from $226.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, November 12th. Finally, Leerink Partnrs raised AbbVie from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.70.

AbbVie Trading Up 2.2 %

Shares of NYSE:ABBV traded up $3.79 during mid-day trading on Tuesday, reaching $175.42. The stock had a trading volume of 7,663,339 shares, compared to its average volume of 5,552,370. The firm has a 50 day simple moving average of $183.83 and a two-hundred day simple moving average of $183.39. AbbVie has a twelve month low of $151.29 and a twelve month high of $207.32. The firm has a market cap of $309.99 billion, a PE ratio of 60.91, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The company has a current ratio of 0.65, a quick ratio of 0.54 and a debt-to-equity ratio of 9.64.

AbbVie (NYSE:ABBV - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.28 billion. During the same period last year, the business posted $2.95 earnings per share. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, research analysts predict that AbbVie will post 10.96 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new stake in shares of AbbVie in the third quarter valued at approximately $28,000. Fairway Wealth LLC bought a new stake in shares of AbbVie during the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the 2nd quarter worth $27,000. Marquette Asset Management LLC bought a new position in shares of AbbVie in the third quarter worth $39,000. Finally, Mizuho Securities Co. Ltd. raised its stake in AbbVie by 100.0% in the third quarter. Mizuho Securities Co. Ltd. now owns 200 shares of the company's stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. 70.23% of the stock is owned by institutional investors and hedge funds.

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.