Vetr lowered shares of AbbVie Inc. (NYSE:ABBV) from a strong-buy rating to a buy rating in a research note issued to investors on Monday. They currently have $67.75 price objective on the stock.

ABBV has been the topic of several other research reports. Jefferies Group restated a buy rating on shares of AbbVie in a research note on Thursday, August 25th. JPMorgan Chase & Co. cut shares of AbbVie from an overweight rating to a neutral rating and lowered their target price for the company from $75.00 to $73.00 in a research note on Thursday, September 8th. They noted that the move was a valuation call. Raymond James Financial Inc. assumed coverage on shares of AbbVie in a research note on Thursday, September 1st. They set an outperform rating and a $82.00 target price on the stock. Goldman Sachs Group Inc. restated a buy rating and set a $78.00 target price on shares of AbbVie in a research note on Thursday, September 8th. Finally, Argus restated a buy rating and set a $85.00 target price on shares of AbbVie in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. AbbVie currently has an average rating of Hold and an average target price of $69.54.

Shares of AbbVie (NYSE:ABBV) opened at 60.80 on Monday. The firm’s 50-day moving average is $60.36 and its 200 day moving average is $62.70. The company has a market capitalization of $98.81 billion, a price-to-earnings ratio of 16.44 and a beta of 1.55. AbbVie has a 12 month low of $50.71 and a 12 month high of $68.12.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 28th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.55 billion. AbbVie had a net margin of 24.08% and a return on equity of 150.77%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. Equities analysts expect that AbbVie will post $4.82 EPS for the current year.

TRADEMARK VIOLATION NOTICE: This news story was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The original version of this news story can be accessed at http://www.dailypolitical.com/2016/12/01/abbvie-inc-abbv-downgraded-by-vetr-inc.html.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 4.21%. This is a positive change from AbbVie’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, January 11th. AbbVie’s dividend payout ratio is currently 61.62%.

In related news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the completion of the sale, the insider now directly owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Acropolis Investment Management LLC bought a new stake in shares of AbbVie during the second quarter worth about $106,000. Penserra Capital Management LLC raised its stake in shares of AbbVie by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,764 shares of the company’s stock worth $111,000 after buying an additional 882 shares during the period. Glassman Wealth Services raised its stake in shares of AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock worth $113,000 after buying an additional 1,256 shares during the period. Cypress Capital Management LLC WY bought a new stake in shares of AbbVie during the second quarter worth about $114,000. Finally, Hartford Financial Management Inc. raised its stake in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock worth $115,000 after buying an additional 979 shares during the period. 66.67% of the stock is owned by institutional investors and hedge funds.

AbbVie Company Profile

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.

5 Day Chart for NYSE:ABBV

To view Vetr’s full report, visit Vetr’s official website.

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