AbbVie Inc. (ABBV) Earns Buy Rating from Jefferies Group LLC
Jefferies Group LLC reissued their buy rating on shares of AbbVie Inc. (NYSE:ABBV) in a research note issued to investors on Friday morning, Marketbeat.com reports. Jefferies Group LLC currently has a $107.00 price objective on the stock, up from their previous price objective of $94.00.
A number of other brokerages have also issued reports on ABBV. BidaskClub upgraded shares of AbbVie from a buy rating to a strong-buy rating in a research note on Wednesday, September 6th. Credit Suisse Group reiterated a neutral rating and set a $74.00 price target (up from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Leerink Swann reiterated a market perform rating on shares of AbbVie in a research note on Thursday, June 22nd. Vetr lowered shares of AbbVie from a buy rating to a hold rating and set a $76.28 price target on the stock. in a research note on Thursday, July 20th. Finally, Societe Generale upgraded shares of AbbVie from a hold rating to a buy rating in a research note on Thursday, June 22nd. Seven equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $82.38.
AbbVie (NYSE ABBV) opened at 87.37 on Friday. The firm’s 50-day moving average is $74.86 and its 200-day moving average is $69.44. AbbVie has a 52-week low of $55.06 and a 52-week high of $89.69. The stock has a market cap of $139.28 billion, a P/E ratio of 21.49 and a beta of 1.48.
AbbVie (NYSE:ABBV) last issued its quarterly 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 company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 earnings per share. Equities research analysts predict that AbbVie will post $5.52 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a $0.64 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.56 annualized dividend and a yield of 2.93%. AbbVie’s dividend payout ratio is currently 62.90%.
In other AbbVie news, insider Henry O. Gosebruch sold 18,000 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $70.09, for a total value of $1,261,620.00. Following the transaction, the insider now directly owns 96,074 shares in the company, valued at $6,733,826.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Rapp purchased 4,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was bought at an average price of $70.45 per share, for a total transaction of $281,800.00. Following the completion of the purchase, the director now directly owns 15,498 shares of the company’s stock, valued at $1,091,834.10. The disclosure for this purchase can be found here. Insiders sold 373,191 shares of company stock worth $26,598,305 over the last quarter. 0.23% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in ABBV. First Command Financial Services Inc. increased its stake in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after purchasing an additional 99 shares during the last quarter. Capital City Trust Co. FL increased its stake in AbbVie by 6.7% in the first quarter. Capital City Trust Co. FL now owns 26,383 shares of the company’s stock valued at $1,718,000 after purchasing an additional 1,647 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in AbbVie by 1.1% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,165 shares of the company’s stock valued at $2,878,000 after purchasing an additional 500 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in AbbVie in the first quarter valued at approximately $313,000. Finally, Tompkins Financial Corp increased its stake in AbbVie by 29.8% in the first quarter. Tompkins Financial Corp now owns 13,842 shares of the company’s stock valued at $791,000 after purchasing an additional 3,175 shares during the last quarter. Institutional investors own 68.29% of the company’s stock.
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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