AbbVie Inc. (ABBV) Price Target Increased to $115.00 by Analysts at Jefferies Group LLC
Several other analysts have also recently issued reports on ABBV. Societe Generale upgraded AbbVie from a hold rating to a buy rating in a report on Thursday, June 22nd. Leerink Swann restated a market perform rating on shares of AbbVie in a report on Thursday, June 22nd. Zacks Investment Research cut AbbVie from a hold rating to a sell rating in a report on Tuesday, July 4th. Vetr upgraded AbbVie from a hold rating to a buy rating and set a $74.86 target price for the company in a report on Thursday, July 6th. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $66.00 price target (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $92.25.
Shares of AbbVie (NYSE:ABBV) opened at 91.04 on Monday. The company has a market capitalization of $145.13 billion, a P/E ratio of 22.39 and a beta of 1.51. AbbVie has a 12 month low of $55.06 and a 12 month high of $92.61. The company has a 50-day moving average price of $85.49 and a 200-day moving average price of $72.96.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.26 EPS. On average, analysts forecast that AbbVie will post $5.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is 62.90%.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry O. Gosebruch sold 18,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 96,074 shares in the company, valued at approximately $6,733,826.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 379,890 shares of company stock worth $27,187,817. 0.23% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Acropolis Investment Management LLC acquired a new stake in AbbVie in the 2nd quarter valued at about $106,000. Ffcm LLC raised its position in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares in the last quarter. Hudock Capital Group LLC raised its position in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares in the last quarter. BDO Wealth Advisors LLC acquired a new stake in AbbVie in the 2nd quarter valued at about $115,000. Finally, Franklin Parlapiano Turner & Welch LLC acquired a new stake in AbbVie in the 1st quarter valued at about $108,000. 68.25% of the stock is currently owned by institutional investors.
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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