Somewhat Favorable Media Coverage Somewhat Unlikely to Affect AbbVie (ABBV) Stock Price
Press coverage about AbbVie (NYSE:ABBV) has been trending somewhat positive this week, Accern Sentiment reports. The research firm identifies positive and negative press coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. AbbVie earned a news sentiment score of 0.24 on Accern’s scale. Accern also assigned press coverage about the company an impact score of 45.7020254438821 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s analysis:
- Optimum Investment Advisors Has $3.96 Million Holdings in AbbVie Inc (ABBV) (americanbankingnews.com)
- Orleans Capital Management Corp LA Sells 1,821 Shares of AbbVie Inc (ABBV) (americanbankingnews.com)
- AbbVie Inc (ABBV) is Visionary Asset Management Inc.’s 10th Largest Position (americanbankingnews.com)
- AbbVie Inc (ABBV) Position Lessened by Chicago Partners Investment Group LLC (americanbankingnews.com)
- New Mexico Educational Retirement Board Sells 1,100 Shares of AbbVie Inc (ABBV) (americanbankingnews.com)
ABBV has been the subject of a number of research analyst reports. Piper Jaffray Companies raised their price objective on shares of AbbVie to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. BMO Capital Markets set a $66.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a report on Friday, October 27th. Leerink Swann decreased their price objective on shares of AbbVie from $108.00 to $107.00 and set an “outperform” rating for the company in a report on Monday, October 30th. SunTrust Banks restated a “buy” rating on shares of AbbVie in a report on Monday, October 30th. Finally, Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $118.44.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. research analysts expect that AbbVie will post 7.48 earnings per share for the current year.
AbbVie declared that its board has approved a share repurchase plan on Thursday, February 15th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a $0.96 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.23%. AbbVie’s dividend payout ratio (DPR) is presently 86.06%.
In other news, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders sold 233,542 shares of company stock valued at $22,760,708 over the last 90 days. 0.23% of the stock is owned by company insiders.
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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