AbbVie (ABBV) Receiving Favorable News Coverage, Analysis Finds

Press coverage about AbbVie (NYSE:ABBV) has been trending positive recently, Accern Sentiment Analysis reports. Accern identifies negative and positive news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. AbbVie earned a news impact score of 0.39 on Accern’s scale. Accern also assigned media headlines about the company an impact score of 65 out of 100, indicating that recent news coverage is somewhat likely to have an impact on the stock’s share price in the near term.

Here are some of the news stories that may have effected Accern Sentiment Analysis’s analysis:

ABBV has been the topic of a number of recent analyst reports. Vetr lowered AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 price objective on the stock. in a report on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Societe Generale raised AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 target price on shares of AbbVie in a report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $74.66.

AbbVie (NYSE:ABBV) traded up 0.27% during mid-day trading on Friday, hitting $70.63. The company had a trading volume of 3,248,300 shares. AbbVie has a one year low of $55.06 and a one year high of $75.04. The company has a market cap of $112.59 billion, a PE ratio of 17.37 and a beta of 1.50. The company’s 50 day moving average price is $72.13 and its 200-day moving average price is $66.69.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. Equities research analysts anticipate that AbbVie will post $5.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, July 12th. AbbVie’s payout ratio is 62.90%.

In other news, CFO William J. Chase sold 38,300 shares of AbbVie stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the transaction, the chief financial officer now owns 209,043 shares in the company, valued at $13,660,960.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 71,235 shares of AbbVie stock in a transaction on Friday, May 19th. The shares were sold at an average price of $65.49, for a total value of $4,665,180.15. Following the transaction, the chairman now owns 349,462 shares in the company, valued at approximately $22,886,266.38. The disclosure for this sale can be found here. Insiders sold a total of 600,026 shares of company stock worth $41,852,724 over the last 90 days. Insiders own 0.23% of the company’s stock.

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About AbbVie

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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