AbbVie Inc. (NYSE:ABBV)‘s stock had its “buy” rating reaffirmed by Jefferies Group in a research report issued on Wednesday. They currently have a $90.00 target price on the stock. Jefferies Group’s target price would suggest a potential upside of 43.24% from the company’s current price.
ABBV has been the topic of a number of other research reports. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $68.69 price target on the stock in a research note on Tuesday, June 7th. Deutsche Bank AG reissued a “hold” rating on shares of AbbVie in a research note on Tuesday, June 7th. JPMorgan Chase & Co. cut shares of AbbVie from an “overweight” rating to a “neutral” rating and dropped their price target 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. Credit Suisse Group AG reissued an “outperform” rating and issued a $67.00 price target on shares of AbbVie in a research note on Wednesday, June 29th. Finally, Raymond James Financial Inc. began 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. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $70.68.
Shares of AbbVie (NYSE:ABBV) opened at 62.83 on Wednesday. AbbVie has a 52 week low of $45.45 and a 52 week high of $68.12. The stock has a market cap of $102.32 billion, a P/E ratio of 18.12 and a beta of 1.50. The stock has a 50 day moving average of $64.24 and a 200 day moving average of $62.49.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter last year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts expect that AbbVie will post $4.81 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.57 per share. The ex-dividend date is Wednesday, October 12th. This represents a $2.28 dividend on an annualized basis and a yield of 3.63%. AbbVie’s dividend payout ratio (DPR) is presently 65.71%.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the sale, the insider now directly owns 144,138 shares in the company, valued at $9,368,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Capital Research Global Investors raised its stake in shares of AbbVie by 100.6% in the second quarter. Capital Research Global Investors now owns 152,718,713 shares of the company’s stock worth $9,439,710,000 after buying an additional 76,593,054 shares during the period. Orbis Allan Gray Ltd acquired a new stake in shares of AbbVie during the first quarter worth about $281,766,000. Ameriprise Financial Inc. raised its stake in shares of AbbVie by 52.4% in the second quarter. Ameriprise Financial Inc. now owns 10,364,784 shares of the company’s stock worth $641,739,000 after buying an additional 3,562,980 shares during the period. Bank of Montreal Can acquired a new stake in shares of AbbVie during the second quarter worth about $93,942,000. Finally, Capital World Investors raised its stake in shares of AbbVie by 28.4% in the second quarter. Capital World Investors now owns 6,165,592 shares of the company’s stock worth $379,675,000 after buying an additional 1,365,592 shares during the period. Institutional investors own 68.36% of the company’s stock.
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.
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