AbbVie Inc. (NYSE:ABBV)‘s stock had its “buy” rating restated by stock analysts at Goldman Sachs Group Inc. in a report issued on Tuesday. They presently have a $78.00 price target on the stock. Goldman Sachs Group Inc.’s price objective points to a potential upside of 21.46% from the stock’s current price.
Several other research firms have also weighed in on ABBV. Vetr lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 target price on the stock. in a report on Thursday, June 23rd. Jefferies Group reiterated a “buy” rating on shares of AbbVie in a report on Monday, June 6th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of AbbVie in a report on Monday, June 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Finally, Argus reiterated a “buy” rating and issued a $85.00 target price on shares of AbbVie in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $70.68.
Shares of AbbVie (NYSE:ABBV) opened at 64.22 on Tuesday. The stock’s 50 day moving average is $64.90 and its 200 day moving average is $62.24. AbbVie has a 12 month low of $45.45 and a 12 month high of $68.12. The stock has a market capitalization of $104.58 billion, a PE ratio of 18.52 and a beta of 1.49.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.20 billion. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. AbbVie’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 earnings per share. Analysts anticipate that AbbVie will post $4.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Wednesday, October 12th. AbbVie’s dividend payout ratio is presently 65.71%.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the sale, the insider now directly owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of ABBV. CapWealth Advisors LLC boosted its position in shares of AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock valued at $103,000 after buying an additional 639 shares during the last quarter. Acropolis Investment Management LLC bought a new position in shares of AbbVie during the second quarter valued at about $106,000. Glassman Wealth Services boosted its position in shares of AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock valued at $113,000 after buying an additional 1,256 shares during the last quarter. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the second quarter valued at about $114,000. Finally, Hartford Financial Management Inc. boosted its position in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares during the last quarter. Institutional investors and hedge funds 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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