AbbVie Inc. (ABBV) Price Target Raised to $0.00 at Societe Generale
A number of other equities research analysts have also weighed in on ABBV. Piper Jaffray Companies reaffirmed a buy rating and set a $85.00 price target on shares of AbbVie in a report on Thursday, August 3rd. Barclays PLC reaffirmed a hold rating and set a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI reaffirmed an outperform rating and set a $100.00 price target (up from $95.00) on shares of AbbVie in a report on Saturday, September 30th. BidaskClub lowered shares of AbbVie from a buy rating to a hold rating in a report on Friday, August 4th. Finally, BMO Capital Markets reaffirmed a hold rating and set a $66.00 price target on shares of AbbVie in a report on Thursday, September 28th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $93.68.
Shares of AbbVie (ABBV) opened at $94.68 on Tuesday. AbbVie has a 52-week low of $58.60 and a 52-week high of $98.26. The stock has a market cap of $150,930.00, a price-to-earnings ratio of 17.63, a PEG ratio of 1.30 and a beta of 1.52. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business earned $1.21 EPS. research analysts forecast that AbbVie will post 5.55 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is 61.84%.
In other AbbVie news, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the transaction, the executive vice president now owns 114,922 shares of the company’s stock, valued at approximately $10,881,964.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,932 shares of company stock worth $5,379,432. Corporate insiders own 0.23% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio increased its stake in AbbVie by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,101,377 shares of the company’s stock valued at $97,868,000 after buying an additional 4,028 shares during the period. Coastline Trust Co increased its stake in AbbVie by 9.8% during the 3rd quarter. Coastline Trust Co now owns 19,600 shares of the company’s stock valued at $1,742,000 after buying an additional 1,744 shares during the period. Garde Capital Inc. increased its stake in AbbVie by 209.6% during the 3rd quarter. Garde Capital Inc. now owns 13,859 shares of the company’s stock valued at $1,232,000 after buying an additional 9,383 shares during the period. Smith Shellnut Wilson LLC ADV acquired a new position in AbbVie during the 3rd quarter valued at about $437,000. Finally, Salem Investment Counselors Inc. increased its stake in AbbVie by 5.6% during the 3rd quarter. Salem Investment Counselors Inc. now owns 97,970 shares of the company’s stock valued at $8,772,000 after buying an additional 5,196 shares during the period. 67.65% of the stock is currently owned by hedge funds and other institutional investors.
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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