AbbVie’s (ABBV) Buy Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of AbbVie Inc (NYSE:ABBV) in a research report released on Friday, Marketbeat Ratings reports. The brokerage currently has a $107.00 price target on the stock, up from their previous price target of $94.00.
A number of other equities research analysts also recently commented on the stock. Piper Jaffray Companies reiterated a buy rating and set a $100.00 price target on shares of AbbVie in a report on Friday. SunTrust Banks, Inc. reiterated a buy rating and set a $95.00 price target on shares of AbbVie in a report on Wednesday, September 13th. Leerink Swann reiterated a market perform rating on shares of AbbVie in a report on Tuesday, September 12th. Cowen and Company reiterated a hold rating and set a $95.00 price target (up from $70.00) on shares of AbbVie in a report on Monday, September 11th. Finally, Goldman Sachs Group, Inc. (The) reiterated a buy rating and set a $100.00 price target (up from $85.00) on shares of AbbVie in a report on Friday, September 8th. Seven 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. The stock has an average rating of Buy and an average price target of $82.38.
Shares of AbbVie (ABBV) opened at 85.32 on Friday. AbbVie has a 52 week low of $55.06 and a 52 week high of $89.69. The stock has a market cap of $136.01 billion, a PE ratio of 20.98 and a beta of 1.48. The company’s 50-day moving average is $75.29 and its 200 day moving average is $69.70.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a net margin of 27.58% and a return on equity of 139.57%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 earnings per share. Analysts forecast that AbbVie will post $5.52 earnings per share for the current fiscal year.
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 issued a $0.64 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a yield of 3.00%. AbbVie’s payout ratio is 62.90%.
In other AbbVie news, Chairman Richard A. Gonzalez sold 193,131 shares of AbbVie stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the transaction, the chairman now directly owns 469,623 shares of the company’s stock, valued at $33,343,233. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction that occurred 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 directly owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 373,191 shares of company stock valued at $26,598,305. 0.23% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in ABBV. First Command Financial Services Inc. lifted its position in AbbVie by 6.8% during the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares in the last quarter. Acropolis Investment Management LLC acquired a new position in AbbVie during the second quarter valued at approximately $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in AbbVie during the first quarter valued at approximately $108,000. Hudock Capital Group LLC lifted its position in AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after buying an additional 806 shares in the last quarter. Finally, Ffcm LLC lifted its position in AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after buying an additional 963 shares in the last quarter. 68.25% of the stock is currently owned by hedge funds and other institutional investors.
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.
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.