Vetr Upgrades AbbVie (ABBV) to “Strong-Buy”

AbbVie (NYSE:ABBV) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Wednesday. The brokerage presently has a $113.08 price objective on the stock. Vetr‘s price objective indicates a potential upside of 15.49% from the company’s current price.

ABBV has been the subject of a number of other reports. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Tuesday, October 17th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Goldman Sachs Group reiterated a “buy” rating and set a $100.00 target price (up from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Deutsche Bank boosted their target price on shares of AbbVie to $88.00 and gave the company a “hold” rating in a research note on Thursday, September 28th. Finally, Jefferies Group reiterated a “buy” rating and set a $107.00 target price (up from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $100.26.

AbbVie (NYSE:ABBV) opened at $97.91 on Wednesday. The stock has a market capitalization of $155,508.25, a P/E ratio of 18.34, a P/E/G ratio of 1.35 and a beta of 1.52. AbbVie has a 12-month low of $59.27 and a 12-month high of $99.10. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 EPS. equities analysts anticipate that AbbVie will post 5.55 earnings per share for the current fiscal year.

In other news, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Insiders sold a total of 501,375 shares of company stock valued at $47,827,450 over the last 90 days. 0.23% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC increased its stake in AbbVie by 5.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,418,955 shares of the company’s stock worth $303,808,000 after buying an additional 188,933 shares in the last quarter. Shelton Capital Management increased its stake in AbbVie by 59.6% in the 3rd quarter. Shelton Capital Management now owns 127,799 shares of the company’s stock worth $11,356,000 after buying an additional 47,700 shares in the last quarter. GSB Wealth Management LLC bought a new position in shares of AbbVie during the 3rd quarter valued at about $240,000. Steward Partners Investment Advisory LLC bought a new position in shares of AbbVie during the 3rd quarter valued at about $5,754,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of AbbVie by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,101,377 shares of the company’s stock valued at $97,868,000 after purchasing an additional 4,028 shares during the last quarter. Institutional investors and hedge funds own 69.18% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This report was published by Community Financial News and is owned by of Community Financial News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright legislation. The legal version of this report can be viewed at https://www.com-unik.info/2017/12/22/vetr-upgrades-abbvie-abbv-to-strong-buy.html.

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.

Analyst Recommendations for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.

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