AbbVie Receives a Hold from BMO Capital

By Austin Angelo

In a report released today, Alex Arfaei from BMO Capital reiterated a Hold rating on AbbVie (NYSE: ABBV), with a price target of $63. The company’s shares closed yesterday at $64.31.

According to TipRanks.com, Arfaei is a 3-star analyst with an average return of 3.9% and a 57.9% success rate. Arfaei covers the Healthcare sector, focusing on stocks such as Kindred Biosciences, Merck & Company, and Eli Lilly & Co.

AbbVie has an analyst consensus of Moderate Buy, with a price target consensus of $70.83.

Based on AbbVie’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $6.8 billion and quarterly net profit of $1.38 billion. In comparison, last year the company earned revenue of $5.96 billion and had a net profit of $1.35 billion.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ABBV in relation to earlier this year. Last month, Thomas Hurwich, the VP, Controller of ABBV sold 7,258 shares for a total of $450,830.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.