AbbVie Inc. (ABBV) Upgraded to Strong-Buy by Vetr Inc.
Vetr upgraded shares of AbbVie Inc. (NYSE:ABBV) from a buy rating to a strong-buy rating in a report released on Monday. The brokerage currently has $67.75 price objective on the stock.
Several other equities research analysts have also issued reports on ABBV. Argus reaffirmed a buy rating and set a $85.00 target price on shares of AbbVie in a research report on Monday, August 8th. Barclays PLC reaffirmed an equal weight rating and set a $68.00 target price on shares of AbbVie in a research report on Tuesday, August 2nd. BMO Capital Markets reaffirmed a market perform rating and set a $66.00 target price on shares of AbbVie in a research report on Friday, July 29th. Jefferies Group reaffirmed a buy rating on shares of AbbVie in a research report on Thursday, August 4th. Finally, Credit Suisse Group AG lowered AbbVie from an outperform rating to a neutral rating and decreased their target price for the company from $70.00 to $60.00 in a research report on Monday, October 31st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie presently has an average rating of Hold and a consensus target price of $69.82.
Shares of AbbVie (NYSE:ABBV) opened at 60.42 on Monday. The company has a market cap of $98.19 billion, a PE ratio of 16.33 and a beta of 1.55. The company’s 50-day moving average is $60.85 and its 200 day moving average is $62.80. AbbVie has a 52-week low of $50.71 and a 52-week high of $68.12.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 28th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. AbbVie had a return on equity of 150.77% and a net margin of 24.08%. The business had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period last year, the business earned $1.13 EPS. The business’s revenue was up 7.4% on a year-over-year basis. On average, analysts anticipate that AbbVie will post $4.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be given a $0.64 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.57. The ex-dividend date is Wednesday, January 11th. This represents a $2.56 dividend on an annualized basis and a yield of 4.24%. AbbVie’s payout ratio is presently 61.62%.
In related news, insider Laura J. Schumacher sold 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now 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 is accessible through this link. 0.11% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Acropolis Investment Management LLC bought a new stake in shares of AbbVie during the second quarter valued at $106,000. Penserra Capital Management LLC increased its stake in shares of AbbVie by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,764 shares of the company’s stock valued at $111,000 after buying an additional 882 shares during the last quarter. Glassman Wealth Services increased its stake in shares of 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 shares of AbbVie during the second quarter valued at $114,000. Finally, Hartford Financial Management Inc. increased its stake in shares of 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. Institutional investors 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.
Receive News & Stock Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related stocks with our FREE daily email newsletter.