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.
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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.
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