AbbVie Inc. (ABBV) Rating Lowered to Buy at Vetr Inc.
AbbVie Inc. (NYSE:ABBV) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They currently have a $67.75 price objective on the stock. Vetr‘s price target would suggest a potential upside of 10.00% from the stock’s current price.
A number of other equities analysts have also weighed in on the stock. Leerink Swann reiterated a “hold” rating on shares of AbbVie in a research report on Tuesday, November 8th. BMO Capital Markets reiterated a “market perform” rating and issued a $63.00 price objective on shares of AbbVie in a research report on Tuesday, November 8th. Citigroup Inc. restated a “buy” rating on shares of AbbVie in a research report on Tuesday, November 8th. Jefferies Group restated a “buy” rating and set a $90.00 target price on shares of AbbVie in a research report on Tuesday, November 1st. Finally, Credit Suisse Group AG lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and decreased their target price for the stock 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, ten have issued a hold rating and seven have given a buy rating to the company. AbbVie has an average rating of “Hold” and an average price target of $69.54.
Shares of AbbVie (NYSE:ABBV) opened at 61.59 on Monday. The stock has a 50 day moving average of $60.41 and a 200-day moving average of $62.70. The firm has a market capitalization of $100.09 billion, a PE ratio of 16.65 and a beta of 1.55. AbbVie has a 12 month low of $50.71 and a 12 month high of $68.12.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 28th. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. AbbVie had a net margin of 24.08% and a return on equity of 150.77%. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period last year, the firm posted $1.13 EPS. AbbVie’s quarterly revenue was up 7.4% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie will post $4.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Stockholders of record on Friday, January 13th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Wednesday, January 11th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.16%. This is an increase from AbbVie’s previous quarterly dividend of $0.57. AbbVie’s dividend payout ratio is currently 61.62%.
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In other news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were 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 owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.11% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acropolis Investment Management LLC bought a new position in AbbVie during the second quarter worth approximately $106,000. Penserra Capital Management LLC increased its stake in AbbVie by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,764 shares of the company’s stock worth $111,000 after buying an additional 882 shares during the period. Glassman Wealth Services increased its stake in AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock worth $113,000 after buying an additional 1,256 shares during the period. Cypress Capital Management LLC WY acquired a new stake in AbbVie during the second quarter worth about $114,000. Finally, Hartford Financial Management Inc. increased 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 worth $115,000 after buying an additional 979 shares during the period. 66.67% of the stock is owned by institutional investors.
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.
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