Jefferies Group LLC reiterated their buy rating on shares of AbbVie Inc. (NYSE:ABBV) in a research note issued to investors on Monday. The firm currently has a $94.00 price target on the stock, up from their previous price target of $92.00.
Other equities analysts have also recently issued research reports about the company. Vetr cut AbbVie from a strong-buy rating to a buy rating and set a $71.84 target price for the company. in a report on Monday, May 15th. Societe Generale upgraded AbbVie from a hold rating to a buy rating in a report on Thursday, June 22nd. Credit Suisse Group restated a hold rating and set a $65.00 price objective on shares of AbbVie in a report on Wednesday, June 7th. Deutsche Bank AG boosted their price objective on AbbVie from $64.00 to $65.00 and gave the company a hold rating in a report on Friday, April 28th. Finally, BMO Capital Markets set a $63.00 price objective on AbbVie and gave the company a hold rating in a report on Thursday, April 27th. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $74.52.
AbbVie (NYSE ABBV) opened at 74.01 on Monday. The company’s 50 day moving average price is $71.21 and its 200-day moving average price is $65.76. AbbVie has a one year low of $55.06 and a one year high of $74.22. The company has a market cap of $117.79 billion, a P/E ratio of 19.18 and a beta of 1.51.
AbbVie (NYSE:ABBV) last announced its earnings results on Thursday, April 27th. The company reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.02. The firm had revenue of $6.54 billion during the quarter, compared to analysts’ expectations of $6.49 billion. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.15 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 Tuesday, August 15th. Shareholders of record on Friday, July 14th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Wednesday, July 12th. AbbVie’s dividend payout ratio (DPR) is presently 66.32%.
In other AbbVie news, insider Laura J. Schumacher sold 79,800 shares of AbbVie stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the completion of the sale, the insider now directly owns 187,625 shares of the company’s stock, valued at approximately $13,133,750. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Carlos Alban sold 43,000 shares of AbbVie stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $67.00, for a total value of $2,881,000.00. Following the sale, the executive vice president now directly owns 114,745 shares of the company’s stock, valued at $7,687,915. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 278,135 shares of company stock valued at $18,841,085. 0.23% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Abner Herrman & Brock LLC raised its stake in shares of AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after buying an additional 18 shares during the period. Bollard Group LLC raised its stake in shares of AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after buying an additional 19 shares during the period. TRUE Private Wealth Advisors raised its stake in shares of AbbVie by 0.5% in the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock worth $313,000 after buying an additional 24 shares during the period. St. Louis Trust Co raised its position in AbbVie by 0.7% in the first quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock valued at $221,000 after buying an additional 25 shares during the last quarter. Finally, Country Club Trust Company n.a. raised its position in AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock valued at $289,000 after buying an additional 26 shares during the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.
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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