AbbVie Inc. (NYSE:ABBV)‘s stock had its “buy” rating reiterated by Citigroup Inc. in a research note issued on Tuesday.
Several other research firms have also recently weighed in on ABBV. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $78.00 price target on shares of AbbVie in a report on Tuesday, September 27th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $67.14 price target on the stock in a report on Monday, July 18th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $66.00 price target on shares of AbbVie in a report on Friday, July 29th. Jefferies Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of AbbVie in a report on Wednesday, October 5th. Finally, Barclays PLC reissued an “equal weight” rating and set a $68.00 price objective on shares of AbbVie in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. AbbVie presently has a consensus rating of “Hold” and an average target price of $69.82.
Shares of AbbVie (NYSE:ABBV) opened at 60.51 on Tuesday. The stock’s 50 day moving average price is $60.51 and its 200 day moving average price is $62.73. AbbVie has a 12-month low of $50.71 and a 12-month high of $68.12. The company has a market capitalization of $98.33 billion, a PE ratio of 16.36 and a beta of 1.55.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 28th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. AbbVie had a return on equity of 150.77% and a net margin of 24.08%. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter last year, the firm posted $1.13 EPS. The company’s revenue was up 7.4% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie will post $4.82 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Wednesday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.57. AbbVie’s dividend payout ratio (DPR) is presently 61.62%.
In other news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. Following the completion of the transaction, the insider now owns 144,138 shares in the company, valued at approximately $9,368,970. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. boosted its position in shares of AbbVie by 706.2% in the first quarter. 1832 Asset Management L.P. now owns 343,430 shares of the company’s stock worth $32,154,000 after buying an additional 300,831 shares during the last quarter. BB&T Securities LLC boosted its position in shares of AbbVie by 46.4% in the first quarter. BB&T Securities LLC now owns 1,379,549 shares of the company’s stock worth $78,799,000 after buying an additional 436,945 shares during the last quarter. Pegasus Partners Ltd. boosted its position in shares of AbbVie by 2.7% in the first quarter. Pegasus Partners Ltd. now owns 3,800 shares of the company’s stock worth $217,000 after buying an additional 100 shares during the last quarter. Cypress Wealth Advisors LLC bought a new position in shares of AbbVie during the first quarter worth about $275,000. Finally, Meeder Asset Management Inc. boosted its position in shares of AbbVie by 1,280.3% in the first quarter. Meeder Asset Management Inc. now owns 48,740 shares of the company’s stock worth $2,783,000 after buying an additional 45,209 shares during the last quarter. Institutional investors own 68.87% of the company’s stock.