AbbVie Inc. (NYSE:ABBV) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Monday. They presently have a $67.75 target price on the stock. Vetr‘s price objective suggests a potential upside of 11.96% from the stock’s current price.
Several other equities research analysts have also commented on ABBV. Jefferies Group restated a “buy” rating and set a $90.00 price target on shares of AbbVie in a research note on Tuesday, November 1st. BMO Capital Markets restated a “market perform” rating and set a $63.00 price target on shares of AbbVie in a research note on Tuesday, November 8th. Leerink Swann restated a “hold” rating on shares of AbbVie in a research note on Tuesday, November 8th. Credit Suisse Group AG lowered AbbVie from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $70.00 to $60.00 in a research note on Monday, October 31st. Finally, Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research note on Wednesday, September 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $69.82.
Shares of AbbVie (NYSE:ABBV) opened at 60.51 on Monday. The company’s 50-day moving average price is $60.51 and its 200 day moving average price is $62.73. The stock has a market cap of $98.33 billion, a PE ratio of 16.36 and a beta of 1.55. AbbVie has a 1-year low of $50.71 and a 1-year high of $68.12.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 28th. The company reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The firm earned $6.43 billion during the quarter, compared to analyst estimates of $6.55 billion. AbbVie had a return on equity of 150.77% and a net margin of 24.08%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 earnings per share. Equities analysts forecast that AbbVie will post $4.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th will be issued a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Wednesday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.57. AbbVie’s dividend payout ratio (DPR) is currently 61.62%.
In other news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the sale, the insider now directly owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.
Several hedge funds have recently made changes to their positions in ABBV. Ashburton Jersey Ltd bought a new stake in shares of AbbVie during the third quarter worth $487,000. HighPoint Advisor Group LLC boosted its stake in shares of AbbVie by 175.1% in the third quarter. HighPoint Advisor Group LLC now owns 55,617 shares of the company’s stock worth $3,431,000 after buying an additional 35,402 shares during the last quarter. ETRADE Capital Management LLC boosted its stake in shares of AbbVie by 24.7% in the third quarter. ETRADE Capital Management LLC now owns 142,523 shares of the company’s stock worth $8,989,000 after buying an additional 28,245 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of AbbVie by 13.1% in the third quarter. D.A. Davidson & CO. now owns 224,388 shares of the company’s stock worth $14,149,000 after buying an additional 26,070 shares during the last quarter. Finally, Bainco International Investors boosted its stake in AbbVie by 0.5% in the third quarter. Bainco International Investors now owns 153,194 shares of the company’s stock valued at $9,662,000 after buying an additional 730 shares in the last quarter. Institutional investors and hedge funds own 68.87% of the company’s stock.
AbbVie Company Profile
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.