Several brokerages have updated their ratings for AbbVie (ABBV). On July 3rd, Piper Sandler maintained an overweight rating with a target price of $190. TD Cowen raised their target from $195 to $225, also issuing a buy rating. Barclays increased their target from $200 to $212 with an overweight rating. UBS raised their target from $185 to $195, giving it a neutral rating. Finally, Wells Fargo upped their target from $200 to $205 with an overweight rating on July 26th. Overall, two analysts rated it as a hold, thirteen as a buy, and one as a strong buy, resulting in a consensus Moderate Buy and an average price target of $198.
View Our Latest Analysis on AbbVie
AbbVie Stock Update
On Thursday, AbbVie shares opened at $194.59, having hit a 12-month low of $135.85 and a high of $199.95. The company has a market cap of $343.62 billion, with a P/E ratio of 57.74. Its earnings report on July 25th showed an EPS of $2.65, beating expectations of $2.57. The companys revenue was $14.46 billion, up 4.3% from last year. Analysts predict an EPS of 10.86 for the year.
Insider Activity
Chairman Richard A. Gonzalez sold 66,500 shares on August 5th for $12.4 million, reducing his holdings to about 446,599 shares. He also sold 282,845 shares on July 17th for $49.5 million. Insiders own 0.25% of AbbVie.
Institutional Investments
Recent changes in AbbVie’s large investor positions include Pine Haven Investment Counsel increasing its stake by 0.3%, Frisch Financial up by 0.8%, and several other institutions adjusting their holdings. Overall, institutional investors own 70.23% of AbbVie.
About AbbVie
AbbVie Inc. develops and sells pharmaceuticals globally, including Humira for autoimmune diseases, Skyrizi for plaque psoriasis, and Imbruvica for certain blood cancers.
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