AbbVie (ABBV) PT Set at $95.00 by BMO Capital Markets

AbbVie (NYSE:ABBV) received a $95.00 price objective from investment analysts at BMO Capital Markets in a research note issued on Wednesday. The brokerage presently has a “sell” rating on the stock. BMO Capital Markets’ price objective indicates a potential downside of 19.19% from the company’s current price.

A number of other research firms have also issued reports on ABBV. Credit Suisse Group set a $135.00 price objective on AbbVie and gave the company a “hold” rating in a research report on Monday, January 29th. Societe Generale boosted their price objective on AbbVie in a research report on Tuesday, November 21st. Leerink Swann lowered AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price objective for the company. in a research report on Monday, January 29th. Jefferies Group boosted their price objective on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. Finally, ValuEngine lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $118.44.

AbbVie (ABBV) opened at $117.56 on Wednesday. The company has a market capitalization of $187,680.00, a P/E ratio of 35.62, a PEG ratio of 1.12 and a beta of 1.61. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie has a 12-month low of $61.45 and a 12-month high of $125.86.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The business had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the previous year, the firm posted $1.20 EPS. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. research analysts expect that AbbVie will post 7.47 earnings per share for the current year.

AbbVie announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 15th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

In other news, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The disclosure for this sale can be found here. Insiders have sold a total of 233,542 shares of company stock worth $22,760,708 in the last ninety days. 0.23% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of ABBV. Jennison Associates LLC acquired a new stake in shares of AbbVie during the third quarter worth $544,418,000. Capital International Investors raised its position in shares of AbbVie by 137.7% during the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after purchasing an additional 4,550,954 shares during the period. Vanguard Group Inc. raised its position in shares of AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares during the period. Janus Henderson Group PLC raised its position in shares of AbbVie by 1,949.7% during the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after purchasing an additional 3,646,510 shares during the period. Finally, Orbis Allan Gray Ltd raised its position in shares of AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares during the period. 69.49% of the stock is currently owned by institutional investors.

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About AbbVie

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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