AbbVie (ABBV) Upgraded to Buy at ValuEngine
ValuEngine upgraded shares of AbbVie (NYSE:ABBV) from a hold rating to a buy rating in a report published on Friday.
Several other analysts have also commented on ABBV. Cowen raised AbbVie from a market perform rating to an outperform rating and boosted their price target for the company from $91.17 to $105.00 in a research note on Wednesday, October 11th. UBS Group reissued a neutral rating on shares of AbbVie in a research note on Friday, October 13th. Barclays boosted their price objective on AbbVie to $90.00 and gave the stock an equal weight rating in a research note on Friday, October 13th. Jefferies Group boosted their price objective on AbbVie from $107.00 to $115.00 and gave the stock a buy rating in a research note on Monday, October 16th. Finally, Zacks Investment Research raised AbbVie from a hold rating to a buy rating and set a $102.00 price objective on the stock in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $117.26.
Shares of AbbVie (ABBV) opened at $115.17 on Friday. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The company has a market capitalization of $183,590.00, a price-to-earnings ratio of 27.95, a P/E/G ratio of 1.11 and a beta of 1.61. AbbVie has a one year low of $60.05 and a one year high of $125.86.
In other news, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the sale, the senior vice president now owns 113,118 shares in the company, valued at $11,136,467.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The disclosure for this sale can be found here. In the last three months, insiders sold 476,376 shares of company stock worth $45,580,873. Insiders own 0.23% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Formidable Asset Management LLC increased its holdings in AbbVie by 0.3% in the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock valued at $285,000 after purchasing an additional 10 shares during the last quarter. WealthTrust Axiom LLC increased its holdings in AbbVie by 0.3% in the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock valued at $312,000 after purchasing an additional 15 shares during the last quarter. Abner Herrman & Brock LLC increased its holdings in AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock valued at $456,000 after purchasing an additional 18 shares during the last quarter. St. Louis Trust Co increased its holdings in AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock valued at $248,000 after purchasing an additional 23 shares during the last quarter. Finally, TRUE Private Wealth Advisors increased its holdings in AbbVie by 0.6% in the second quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock valued at $349,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 69.28% of the company’s stock.
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AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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