AbbVie Inc. (NYSE:ABBV)‘s stock had its “hold” rating reaffirmed by research analysts at Deutsche Bank AG in a research report issued to clients and investors on Monday, July 17th. They presently have a $66.00 price target on the stock, up from their prior price target of $65.00. Deutsche Bank AG’s price target indicates a potential downside of 7.03% from the company’s current price.
Other research analysts also recently issued reports about the company. Vetr downgraded AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 target price for the company. in a research report on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating on shares of AbbVie in a research report on Friday, May 26th. Societe Generale upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. Credit Suisse Group reiterated a “hold” rating and set a $65.00 target price on shares of AbbVie in a research report on Wednesday, June 7th. Finally, BMO Capital Markets set a $63.00 target price on AbbVie and gave the company a “hold” rating in a research report on Thursday, April 27th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $75.35.
AbbVie (NYSE:ABBV) remained flat at $70.99 on Monday. The company had a trading volume of 4,732,537 shares. AbbVie has a one year low of $55.06 and a one year high of $75.04. The company has a 50 day moving average price of $72.07 and a 200 day moving average price of $66.31. The firm has a market cap of $112.98 billion, a PE ratio of 17.46 and a beta of 1.50.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 154.76% and a net margin of 24.77%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. On average, equities analysts predict that AbbVie will post $5.52 EPS for the current year.
In other news, insider Laura J. Schumacher sold 79,800 shares of the 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 transaction, the insider now owns 187,625 shares of the company’s stock, valued at approximately $13,133,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard A. Gonzalez sold 65,861 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.00, for a total value of $4,676,131.00. Following the transaction, the chief executive officer now directly owns 342,353 shares in the company, valued at approximately $24,307,063. The disclosure for this sale can be found here. In the last quarter, insiders sold 406,895 shares of company stock worth $28,140,423. Insiders own 0.23% of the company’s stock.
Several institutional investors have recently bought and sold shares of ABBV. Marietta Wealth Management LLC purchased a new position in AbbVie during the fourth quarter worth about $2,021,000. MML Investors Services LLC purchased a new position in AbbVie during the fourth quarter worth about $272,000. Azimuth Capital Management LLC increased its position in AbbVie by 2.2% in the fourth quarter. Azimuth Capital Management LLC now owns 82,388 shares of the company’s stock worth $5,159,000 after buying an additional 1,783 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in AbbVie by 5,766.3% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 178,217 shares of the company’s stock worth $178,000 after buying an additional 175,179 shares during the last quarter. Finally, Cim Investment Mangement Inc. increased its position in AbbVie by 1.5% in the fourth quarter. Cim Investment Mangement Inc. now owns 18,223 shares of the company’s stock worth $1,141,000 after buying an additional 270 shares during the last quarter. 68.00% of the stock is currently 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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