AbbVie Inc. (ABBV) Receives “Market Perform” Rating from Leerink Swann
Other analysts have also recently issued reports about the stock. BMO Capital Markets reiterated a market perform rating and issued a $66.00 target price on shares of AbbVie in a research note on Wednesday, May 17th. Piper Jaffray Companies reiterated a buy rating and issued a $85.00 target price on shares of AbbVie in a research note on Thursday, August 3rd. Evercore ISI assumed coverage on shares of AbbVie in a research note on Wednesday, August 16th. They issued an outperform rating and a $95.00 target price for the company. Vetr cut shares of AbbVie from a buy rating to a hold rating and set a $72.72 target price for the company. in a research note on Wednesday, June 14th. Finally, BidaskClub cut shares of AbbVie from a strong-buy rating to a buy rating in a research note on Friday, July 28th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. AbbVie currently has an average rating of Buy and an average target price of $82.38.
AbbVie (NYSE ABBV) opened at 87.37 on Tuesday. The firm has a market capitalization of $139.28 billion, a price-to-earnings ratio of 21.49 and a beta of 1.48. The firm’s 50-day moving average is $74.86 and its 200 day moving average is $69.44. AbbVie has a 12 month low of $55.06 and a 12 month high of $89.69.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.02. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. Equities analysts predict that AbbVie will post $5.52 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is currently 62.90%.
In related news, insider Henry O. Gosebruch sold 18,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the completion of the transaction, the insider now directly owns 96,074 shares in the company, valued at approximately $6,733,826.66. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 373,191 shares of company stock valued at $26,598,305. Corporate insiders own 0.23% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its stake in AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after purchasing an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. raised its stake in AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after purchasing an additional 3,706,941 shares during the last quarter. BlackRock Inc. raised its stake in AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after purchasing an additional 1,864,418 shares during the last quarter. State Street Corp raised its stake in AbbVie by 2.4% during the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after purchasing an additional 1,696,042 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its stake in AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after purchasing an additional 3,340,038 shares during the last quarter. Hedge funds and other institutional investors own 68.29% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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