Today: AbbVie Inc. (ABBV) Stock Rating Reaffirm by Citigroup Inc.

Today: AbbVie Inc. (ABBV) Stock Rating Reaffirm by Citigroup Inc.

AbbVie Inc. (NYSE:ABBV)‘s stock had its “neutral” rating reissued by investment analysts at Citigroup Inc. in a report issued on Monday.

Several other brokerages also recently commented on ABBV. Barclays PLC reaffirmed an “equal weight” rating and set a $68.00 price objective on shares of AbbVie in a research note on Tuesday, August 2nd. Jefferies Group reiterated a “buy” rating on shares of AbbVie in a research report on Thursday, August 4th. Argus reiterated a “buy” rating and set a $85.00 price target on shares of AbbVie in a research report on Monday, August 8th. JPMorgan Chase & Co. cut shares of AbbVie from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $73.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and set a $78.00 price target on shares of AbbVie in a research report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. AbbVie has an average rating of “Hold” and an average price target of $69.82.

AbbVie (NYSE:ABBV) traded down 1.31% during trading on Monday, hitting $59.72. 1,085,758 shares of the company’s stock traded hands. AbbVie has a 12 month low of $50.71 and a 12 month high of $68.12. The stock has a market cap of $97.05 billion, a P/E ratio of 16.14 and a beta of 1.55. The company’s 50 day moving average is $60.51 and its 200-day moving average is $62.73.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 28th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. The firm earned $6.43 billion during the quarter, compared to the consensus estimate of $6.55 billion. AbbVie had a net margin of 24.08% and a return on equity of 150.77%. The company’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. On average, analysts predict that AbbVie will post $4.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th will be given a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.57. This represents a $2.56 annualized dividend and a yield of 4.23%. AbbVie’s dividend payout ratio (DPR) is presently 61.62%.

In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the transaction, the insider now directly owns 144,138 shares in the company, valued at $9,368,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors increased its position in AbbVie by 0.3% in the third quarter. TRUE Private Wealth Advisors now owns 4,577 shares of the company’s stock valued at $279,000 after buying an additional 13 shares during the last quarter. Alexandria Capital LLC increased its stake in shares of AbbVie by 0.3% in the second quarter. Alexandria Capital LLC now owns 4,543 shares of the company’s stock valued at $281,000 after buying an additional 14 shares during the last quarter. Alpha Windward LLC increased its stake in shares of AbbVie by 0.3% in the third quarter. Alpha Windward LLC now owns 4,547 shares of the company’s stock valued at $287,000 after buying an additional 15 shares during the last quarter. Bollard Group LLC increased its stake in shares of AbbVie by 0.4% in the third quarter. Bollard Group LLC now owns 3,709 shares of the company’s stock valued at $234,000 after buying an additional 16 shares during the last quarter. Finally, St. Louis Trust Co increased its stake in shares of AbbVie by 0.6% in the third quarter. St. Louis Trust Co now owns 3,372 shares of the company’s stock valued at $213,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 66.67% of the company’s stock.

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