AbbVie Inc. (ABBV) Stock Rating Reaffirmed by Jefferies Group LLC

AbbVie Inc. (NYSE:ABBV)‘s stock had its “buy” rating restated by research analysts at Jefferies Group LLC in a research note issued on Monday. They presently have a $94.00 price target on the stock, up from their prior price target of $92.00. Jefferies Group LLC’s target price would indicate a potential upside of 29.30% from the company’s previous close.

A number of other equities research analysts also recently weighed in on ABBV. Zacks Investment Research upgraded AbbVie from a “sell” rating to a “hold” rating in a report on Thursday. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $74.86 target price for the company in a report on Thursday, July 6th. Deutsche Bank AG lifted their target price on AbbVie from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Leerink Swann set a $71.00 target price on AbbVie and gave the stock a “hold” rating in a report on Thursday, April 20th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $63.00 target price on shares of AbbVie in a report on Wednesday, March 22nd. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and a consensus target price of $73.42.

AbbVie (ABBV) traded down 0.56% during trading on Monday, hitting $72.70. The stock had a trading volume of 3,461,573 shares. AbbVie has a 52 week low of $55.06 and a 52 week high of $73.67. The company has a market cap of $115.70 billion, a price-to-earnings ratio of 18.84 and a beta of 1.51. The company has a 50-day moving average of $68.61 and a 200 day moving average of $64.71.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Thursday, April 27th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.02. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The company had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.49 billion. During the same period last year, the company earned $1.15 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that AbbVie will post $5.53 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “AbbVie Inc. (ABBV) Stock Rating Reaffirmed by Jefferies Group LLC” was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of US & international copyright & trademark laws. The correct version of this piece can be read at https://www.com-unik.info/2017/07/17/abbvie-inc-nyseabbv-earns-buy-rating-from-jefferies-group-llc.html.

In other AbbVie news, CFO William J. Chase sold 38,300 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $65.35, for a total value of $2,502,905.00. Following the sale, the chief financial officer now directly owns 209,043 shares in the company, valued at $13,660,960.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Laura J. Schumacher sold 79,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total value of $5,586,000.00. Following the completion of the sale, the insider now owns 187,625 shares in the company, valued at $13,133,750. The disclosure for this sale can be found here. In the last three months, insiders sold 278,135 shares of company stock worth $18,841,085. Insiders own 0.23% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Abner Herrman & Brock LLC raised its stake in shares of 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 buying an additional 18 shares during the last quarter. Bollard Group LLC raised its stake in AbbVie by 0.5% in the first quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock worth $244,000 after buying an additional 20 shares during the last quarter. TRUE Private Wealth Advisors raised its stake in AbbVie by 0.5% in the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock worth $313,000 after buying an additional 24 shares during the last quarter. St. Louis Trust Co raised its stake in AbbVie by 0.7% in the first quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock worth $221,000 after buying an additional 25 shares during the last quarter. Finally, Country Club Trust Company n.a. raised its stake in AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock worth $289,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 68.04% of the company’s stock.

AbbVie Company Profile

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.

Analyst Recommendations for AbbVie (NYSE:ABBV)

What are top analysts saying about AbbVie Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for AbbVie Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit