Jefferies Group LLC restated their buy rating on shares of AbbVie Inc. (NYSE:ABBV) in a report issued on Monday, July 17th. They currently have a $94.00 price objective on the stock, up from their previous price objective of $92.00.
A number of other equities analysts also recently commented on ABBV. Zacks Investment Research raised shares of AbbVie from a sell rating to a hold rating in a report on Thursday, July 13th. Vetr upgraded AbbVie from a hold rating to a buy rating and set a $74.86 target price on the stock in a research note on Thursday, July 6th. Leerink Swann reiterated a market perform rating on shares of AbbVie in a research note on Thursday, June 22nd. Societe Generale upgraded shares of AbbVie from a hold rating to a buy rating in a research note on Thursday, June 22nd. Finally, BidaskClub upgraded shares of AbbVie from a buy rating to a strong-buy rating in a research note on Saturday, June 10th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $74.66.
Shares of AbbVie (ABBV) traded up 0.27% during mid-day trading on Monday, reaching $70.63. 3,248,300 shares of the company’s stock traded hands. The company’s 50 day moving average is $72.13 and its 200 day moving average is $66.69. AbbVie has a 12-month low of $55.06 and a 12-month high of $75.04. The company has a market cap of $112.59 billion, a P/E ratio of 17.37 and a beta of 1.50.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the company earned $1.26 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that AbbVie will post $5.52 EPS for the current fiscal year.
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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. The ex-dividend date is Wednesday, July 12th. This represents a $2.56 annualized dividend and a yield of 3.62%. AbbVie’s dividend payout ratio (DPR) is currently 62.90%.
In other news, CEO Richard A. Gonzalez sold 65,861 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $71.00, for a total transaction of $4,676,131.00. Following the sale, the chief executive officer now directly owns 342,353 shares in the company, valued at $24,307,063. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.00, for a total value of $13,712,301.00. Following the completion of the sale, the chairman now owns 469,623 shares in the company, valued at $33,343,233. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 600,026 shares of company stock valued at $41,852,724. Corporate insiders own 0.23% of the company’s stock.
A number of hedge funds have recently made changes to their positions in ABBV. Acropolis Investment Management LLC bought a new stake in shares of AbbVie during the second quarter worth $106,000. Ffcm LLC boosted its stake in shares of AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the period. Hudock Capital Group LLC boosted its stake in shares of AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the period. First Command Financial Services Inc. raised its position in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares in the last quarter. Finally, BDO Wealth Advisors LLC acquired a new position in AbbVie during the second quarter worth approximately $115,000. Hedge funds and other institutional investors own 67.89% 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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