Vetr Inc. Lowers AbbVie Inc (ABBV) to Hold
AbbVie Inc (NYSE:ABBV) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday. They currently have a $64.09 price objective on the stock. Vetr‘s target price suggests a potential upside of 3.54% from the stock’s current price.
A number of other brokerages also recently weighed in on ABBV. Jefferies Group reissued a “buy” rating and issued a $90.00 price target on shares of AbbVie in a report on Friday, May 13th. BMO Capital Markets reissued a “buy” rating on shares of AbbVie in a report on Tuesday, May 3rd. Zacks Investment Research downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. Morgan Stanley reissued a “buy” rating on shares of AbbVie in a report on Saturday, April 30th. Finally, Credit Suisse reissued an “overweight” rating on shares of AbbVie in a report on Tuesday, April 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $69.70.
In other AbbVie news, SVP Timothy J. Richmond sold 12,866 shares of the stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $55.05, for a total transaction of $708,273.30. Following the transaction, the senior vice president now directly owns 79,064 shares in the company, valued at $4,352,473.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard A. Gonzalez sold 39,000 shares of the stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $63.80, for a total transaction of $2,488,200.00. Following the transaction, the chief executive officer now owns 338,421 shares in the company, valued at $21,591,259.80. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of AbbVie by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 99,619,621 shares of the company’s stock worth $5,901,466,000 after buying an additional 394,666 shares during the last quarter. Norges Bank acquired a new position in shares of AbbVie during the fourth quarter worth approximately $838,947,000. Geode Capital Management LLC boosted its position in shares of AbbVie by 0.7% in the first quarter. Geode Capital Management LLC now owns 13,051,181 shares of the company’s stock worth $743,963,000 after buying an additional 93,719 shares during the last quarter. Woodford Investment Management LLP boosted its position in shares of AbbVie by 25.8% in the first quarter. Woodford Investment Management LLP now owns 11,063,300 shares of the company’s stock worth $631,936,000 after buying an additional 2,269,300 shares during the last quarter. Finally, Highfields Capital Management LP boosted its position in shares of AbbVie by 77.7% in the fourth quarter. Highfields Capital Management LP now owns 5,908,500 shares of the company’s stock worth $350,020,000 after buying an additional 2,583,500 shares during the last quarter.
AbbVie (NYSE:ABBV) traded up 1.11% during mid-day trading on Thursday, reaching $61.90. 6,537,116 shares of the company were exchanged. The company’s 50 day moving average price is $60.88 and its 200-day moving average price is $57.94. The stock has a market capitalization of $100.11 billion and a price-to-earnings ratio of 18.61. AbbVie has a 12-month low of $45.45 and a 12-month high of $71.60.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 28th. The company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.01. During the same period last year, the firm posted $0.94 earnings per share. The company earned $5.96 billion during the quarter, compared to analysts’ expectations of $6.03 billion. AbbVie’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie will post $4.76 earnings per share for the current fiscal year.
AbbVie Inc (AbbVie) is a global, research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company’s products are focused on treating conditions, such as chronic autoimmune diseases, including rheumatoid arthritis, psoriasis and Crohn’s disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinson’s disease; complications associated with chronic kidney disease and cystic fibrosis, and other health conditions, such as low testosterone.
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