AbbVie’s (ABBV) “Hold” Rating Reiterated at BMO Capital Markets
Several other equities analysts have also issued reports on the stock. Societe Generale boosted their price target on shares of AbbVie in a report on Tuesday. BidaskClub raised shares of AbbVie from a buy rating to a strong-buy rating in a report on Saturday, November 11th. Zacks Investment Research lowered shares of AbbVie from a buy rating to a hold rating in a research note on Wednesday, November 1st. SunTrust Banks, Inc. reaffirmed a buy rating on shares of AbbVie in a research note on Monday, October 30th. Finally, Leerink Swann reduced their target price on shares of AbbVie from $108.00 to $107.00 and set an outperform rating for the company in a research note on Monday, October 30th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $94.68.
AbbVie (NYSE ABBV) opened at $94.47 on Tuesday. AbbVie has a fifty-two week low of $58.60 and a fifty-two week high of $98.26. The stock has a market cap of $150,814.73, a price-to-earnings ratio of 17.79, a PEG ratio of 1.31 and a beta of 1.51. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the business earned $1.21 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. sell-side analysts expect that AbbVie will post 5.55 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 3.01%. AbbVie’s payout ratio is 62.29%.
In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the sale, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Insiders have sold a total of 58,932 shares of company stock worth $5,379,432 over the last three months. Insiders own 0.23% of the company’s stock.
Large investors have recently modified their holdings of the business. Bristlecone Advisors LLC bought a new stake in shares of AbbVie in the 3rd quarter valued at about $113,000. Acropolis Investment Management LLC bought a new stake in shares of AbbVie in the 2nd quarter valued at about $106,000. Ffcm LLC raised its holdings in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the period. Hudock Capital Group LLC raised its holdings in shares of AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the period. Finally, Hershey Trust Co. bought a new stake in shares of AbbVie in the 3rd quarter valued at about $139,000. 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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