AbbVie (NYSE:ABBV) Now Covered by Wolfe Research

Stock analysts at Wolfe Research started coverage on shares of AbbVie (NYSE:ABBV) in a note issued to investors on Friday, MarketBeat.com reports. The firm set an “outperform” rating and a $205.00 price target on the stock. Wolfe Research’s price objective would suggest a potential upside of 20.85% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Morgan Stanley decreased their target price on AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company increased their price objective on AbbVie from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their target price on shares of AbbVie from $200.00 to $212.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Truist Financial increased their target price on shares of AbbVie from $210.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Guggenheim lifted their price objective on AbbVie from $212.00 to $221.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AbbVie currently has an average rating of “Moderate Buy” and an average price target of $203.89.

AbbVie Stock Down 0.4 %

AbbVie stock opened at $169.63 on Friday. 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 has a 1-year low of $136.30 and a 1-year high of $207.32. The company has a fifty day simple moving average of $193.08 and a 200 day simple moving average of $180.84. The company has a market cap of $299.76 billion, a P/E ratio of 58.90, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63.

AbbVie (NYSE:ABBV) last released its earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, beating 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 business had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.28 billion. During the same period last year, the business earned $2.95 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Research analysts anticipate that AbbVie will post 10.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AbbVie

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fairway Wealth LLC acquired a new stake in AbbVie during the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new stake in shares of AbbVie during the second quarter worth $27,000. RPg Family Wealth Advisory LLC bought a new position in AbbVie during the third quarter worth $28,000. Quest Partners LLC boosted its position in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company’s stock valued at $36,000 after acquiring an additional 207 shares during the last quarter. Finally, Marquette Asset Management LLC bought a new stake in shares of AbbVie during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds 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.