Several brokerages recently updated their ratings for AbbVie (ABBV). Piper Sandler maintained an overweight rating with a target price of $190. TD Cowen raised their target price from $195 to $225 with a buy rating. Barclays also increased their target from $200 to $212 and rated it overweight. UBS raised their target from $185 to $195 and rated it neutral. Wells Fargo raised their target from $200 to $205 and also rated it overweight. In total, two analysts rated the stock as a hold, thirteen as a buy, and one as a strong buy, resulting in a consensus rating of Moderate Buy with an average target price of $198.
View Our Latest Analysis on AbbVie
AbbVie Trading Down 0.1%
ABBV opened at $194.59. The stock has a 12-month low of $135.85 and a high of $199.95. AbbVie has a market cap of $343.62 billion, P/E ratio of 57.74, and a beta of 0.63. The average price over the last 50 days is $193.89.
AbbVie reported $2.65 earnings per share for the last quarter, beating estimates of $2.57, with revenues of $14.46 billion. Analysts expect about $10.86 EPS for the current year.
Insider Transactions
Chairman Richard A. Gonzalez sold 66,500 shares on August 5th at $186.52 each, totaling about $12.4 million. After the sale, he owns 446,599 shares valued at around $83.3 million. He also sold 282,845 shares in July at an average price of $175, totaling nearly $49.5 million. Insiders own 0.25% of the company.
Institutional Activity
Recent institutional activity includes Pine Haven Investment increasing their stake by 0.3%, Frisch Financial by 0.8%, and First Citizens Financial by 0.9%. Overall, institutional investors own 70.23% of AbbVie.
AbbVie Overview
AbbVie Inc. is involved in discovering and selling pharmaceuticals globally, with products like Humira for autoimmune diseases, Skyrizi for psoriasis, and Imbruvica for blood cancers.
Featured Articles
- Five stocks we like better than AbbVie
- How to Invest in Insurance Companies: A Guide
- Strykers Acquisition Spree: Double-Digit Growth on the Horizon
- 2 Fintech Stocks to Buy Now and 1 to Avoid
- Carnival Has Analysts Going Wild: Heres Why
- 3 Monster Growth Stocks to Buy Now
- Top Income Stocks Offering Big Dividend Yields and Future Growth
Receive News & Ratings for AbbVie Daily – Sign up for MarketBeat.com’s FREE daily newsletter to stay updated.
`
