AbbVie Inc (NYSE:ABBV)‘s stock had its “market perform” rating reissued by investment analysts at BMO Capital Markets in a note issued to investors on Wednesday, May 17th. They currently have a $66.00 price target on the stock. BMO Capital Markets’ price objective indicates a potential downside of 2.24% from the company’s previous close.
A number of other brokerages also recently weighed in on ABBV. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 target price for the company in a research note on Monday, May 8th. Societe Generale upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. Goldman Sachs Group Inc upgraded shares of AbbVie from a “buy” rating to a “conviction-buy” rating and lifted their price target for the stock from $74.00 to $80.00 in a research report on Saturday, March 11th. Leerink Swann set a $71.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, April 20th. Finally, Deutsche Bank AG upped their price target on shares of AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a report on Friday, April 28th. Ten investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $72.18.
Shares of AbbVie (NYSE ABBV) opened at 67.51 on Wednesday. The stock’s 50 day moving average price is $65.79 and its 200-day moving average price is $63.41. The firm has a market cap of $107.44 billion, a PE ratio of 17.50 and a beta of 1.57. AbbVie has a 52-week low of $55.06 and a 52-week high of $68.12.
In other news, CFO William J. Chase sold 38,300 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the completion of the sale, the chief financial officer now owns 209,043 shares of the company’s stock, valued at approximately $13,660,960.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 71,235 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $65.49, for a total transaction of $4,665,180.15. Following the sale, the chairman now directly owns 349,462 shares of the company’s stock, valued at approximately $22,886,266.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 292,134 shares of company stock valued at $19,087,407. 0.11% of the stock is owned by company insiders. A number of institutional investors have recently modified their holdings of ABBV. Gyroscope Capital Management Group LLC boosted its position in shares of AbbVie by 5.9% in the fourth quarter. Gyroscope Capital Management Group LLC now owns 70,185 shares of the company’s stock valued at $4,395,000 after buying an additional 3,926 shares during the period. Kempen Capital Management N.V. purchased a new stake in shares of AbbVie during the third quarter worth about $19,889,000. Toth Financial Advisory Corp boosted its stake in shares of AbbVie by 2.6% in the first quarter. Toth Financial Advisory Corp now owns 61,012 shares of the company’s stock worth $3,976,000 after buying an additional 1,536 shares in the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of AbbVie during the fourth quarter worth about $1,117,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of AbbVie by 77.5% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 833,464 shares of the company’s stock worth $52,191,000 after buying an additional 363,937 shares in the last quarter. Institutional investors and hedge funds own 66.67% of the company’s stock.
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