AbbVie Inc (ABBV) Receives $71.05 Average Price Target from Brokerages
Shares of AbbVie Inc (NYSE:ABBV) have been assigned an average rating of “Hold” from the seventeen analysts that are currently covering the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $71.05.
Several analysts have weighed in on ABBV shares. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $67.75 target price for the company in a research note on Monday, November 21st. Citigroup Inc lowered shares of AbbVie from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research note on Monday, November 28th. William Blair reiterated an “outperform” rating and set a $76.00 target price on shares of AbbVie in a research note on Thursday, December 8th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $90.00 target price on shares of AbbVie in a research note on Thursday, January 5th.
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AbbVie (NYSE:ABBV) opened at 65.80 on Tuesday. The firm’s 50-day moving average is $62.44 and its 200 day moving average is $62.01. AbbVie has a 12-month low of $54.80 and a 12-month high of $68.12. The stock has a market capitalization of $104.88 billion, a P/E ratio of 18.13 and a beta of 1.57.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 27th. The company reported $1.20 earnings per share for the quarter, meeting the consensus estimate of $1.20. AbbVie had a net margin of 23.22% and a return on equity of 141.55%. The firm earned $6.78 billion during the quarter, compared to analyst estimates of $6.92 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that AbbVie will post $5.50 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Investors of record on Thursday, April 13th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 3.89%. The ex-dividend date is Tuesday, April 11th. AbbVie’s payout ratio is currently 70.52%.
In related news, Chairman Richard A. Gonzalez sold 72,016 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $64.25, for a total value of $4,627,028.00. Following the completion of the sale, the chairman now owns 369,113 shares of the company’s stock, valued at $23,715,510.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura J. Schumacher sold 40,000 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $65.26, for a total transaction of $2,610,400.00. Following the completion of the sale, the insider now directly owns 147,415 shares of the company’s stock, valued at approximately $9,620,302.90. The disclosure for this sale can be found here. Insiders sold 139,599 shares of company stock valued at $9,038,322 in the last ninety days. Corporate insiders own 0.11% of the company’s stock.
A number of large investors have recently bought and sold shares of ABBV. State Street Corp increased its stake in AbbVie by 4.0% in the fourth quarter. State Street Corp now owns 71,273,488 shares of the company’s stock valued at $4,463,150,000 after buying an additional 2,763,770 shares during the last quarter. BlackRock Fund Advisors increased its stake in AbbVie by 2.5% in the third quarter. BlackRock Fund Advisors now owns 20,582,203 shares of the company’s stock valued at $1,298,120,000 after buying an additional 509,635 shares during the last quarter. Federated Investors Inc. PA increased its stake in AbbVie by 0.6% in the fourth quarter. Federated Investors Inc. PA now owns 15,058,050 shares of the company’s stock valued at $942,935,000 after buying an additional 94,872 shares during the last quarter. Norges Bank bought a new stake in AbbVie during the fourth quarter valued at $823,984,000. Finally, Glenview Capital Management LLC bought a new stake in AbbVie during the fourth quarter valued at $570,905,000. 66.67% of the stock is owned by institutional investors and hedge funds.
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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