AbbVie Inc. (NYSE:ABBV) Receives $69.43 Consensus Price Target from Analysts
AbbVie Inc. (NYSE:ABBV) has been given an average rating of “Buy” by the eighteen brokerages that are currently covering the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $69.43.
A number of brokerages have weighed in on ABBV. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price target for the company. in a research report on Tuesday, July 26th. Jefferies Group reaffirmed a “buy” rating on shares of AbbVie in a research report on Monday, June 6th. BMO Capital Markets reaffirmed a “market perform” rating and set a $66.00 price target on shares of AbbVie in a research report on Friday, July 29th. Finally, Zacks Investment Research raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th.
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 completion of the transaction, the insider now directly owns 144,138 shares in the company, valued at approximately $9,368,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.11% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CapWealth Advisors LLC raised its stake in AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock valued at $103,000 after buying an additional 639 shares during the last quarter. Acropolis Investment Management LLC bought a new stake in AbbVie during the second quarter valued at $106,000. Glassman Wealth Services raised its stake in AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock valued at $113,000 after buying an additional 1,256 shares during the last quarter. Cypress Capital Management LLC WY bought a new stake in AbbVie during the second quarter valued at $114,000. Finally, Hartford Financial Management Inc. raised its stake in AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.
AbbVie (NYSE:ABBV) opened at 63.07 on Thursday. The firm’s 50-day moving average is $64.69 and its 200 day moving average is $62.29. The firm has a market cap of $102.71 billion, a P/E ratio of 18.19 and a beta of 1.49. AbbVie has a 12-month low of $45.45 and a 12-month high of $68.12.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The business earned $6.43 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the firm earned $1.08 EPS. AbbVie’s revenue was up 17.8% on a year-over-year basis. Equities analysts forecast that AbbVie will post $4.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.62%. AbbVie’s dividend payout ratio is currently 65.71%.
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.
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