AbbVie Inc. (NYSE:ABBV)‘s stock had its “neutral” rating restated by analysts at Citigroup Inc. in a note issued to investors on Monday.
A number of other research analysts have also commented on ABBV. Jefferies Group restated a “buy” rating and issued a $90.00 target price on shares of AbbVie in a research note on Tuesday, November 1st. BMO Capital Markets restated a “market perform” rating and issued a $63.00 target price 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. Vetr lowered AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.85 target price for the company. in a research note on Wednesday, November 9th. Finally, Credit Suisse Group AG lowered AbbVie from an “outperform” rating to a “neutral” rating and cut their target price for the company from $70.00 to $60.00 in a research note on Monday, October 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. AbbVie has a consensus rating of “Hold” and an average target price of $69.82.
Shares of AbbVie (NYSE:ABBV) traded down 1.4211% during midday trading on Monday, hitting $59.6501. 1,024,083 shares of the company were exchanged. AbbVie has a one year low of $50.71 and a one year high of $68.12. The firm has a market cap of $96.94 billion, a P/E ratio of 16.1260 and a beta of 1.55. The company’s 50 day moving average price is $60.51 and its 200 day moving average price is $62.73.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 28th. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The business 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%. AbbVie’s revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 earnings per share. Equities analysts expect that AbbVie will post $4.82 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th will be paid a $0.64 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, January 11th. This represents a $2.56 annualized dividend and a yield of 4.23%. AbbVie’s dividend payout ratio is presently 61.62%.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 144,138 shares of the company’s stock, valued at $9,368,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in ABBV. TRUE Private Wealth Advisors raised its stake in AbbVie by 0.3% in the third quarter. TRUE Private Wealth Advisors now owns 4,577 shares of the company’s stock worth $279,000 after buying an additional 13 shares in the last quarter. Alexandria Capital LLC raised its stake in AbbVie by 0.3% in the second quarter. Alexandria Capital LLC now owns 4,543 shares of the company’s stock worth $281,000 after buying an additional 14 shares in the last quarter. Alpha Windward LLC raised its stake in AbbVie by 0.3% in the third quarter. Alpha Windward LLC now owns 4,547 shares of the company’s stock worth $287,000 after buying an additional 15 shares in the last quarter. Bollard Group LLC raised its stake in AbbVie by 0.4% in the third quarter. Bollard Group LLC now owns 3,709 shares of the company’s stock worth $234,000 after buying an additional 16 shares in the last quarter. Finally, St. Louis Trust Co raised its stake in AbbVie by 0.6% in the third quarter. St. Louis Trust Co now owns 3,372 shares of the company’s stock worth $213,000 after buying an additional 20 shares in the last quarter. 66.67% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Company Profile