AbbVie (ABBV) Given a $106.00 Price Target by Leerink Swann Analysts
Leerink Swann set a $106.00 target price on AbbVie (NYSE:ABBV) in a report released on Tuesday morning. The brokerage currently has a buy rating on the stock. Leerink Swann also issued estimates for AbbVie’s Q1 2018 earnings at $1.56 EPS and Q4 2018 earnings at $1.89 EPS.
Several other equities analysts have also recently weighed in on the company. Jefferies Group raised their price target on AbbVie from $107.00 to $115.00 and gave the company a buy rating in a report on Monday, October 16th. BMO Capital Markets set a $66.00 price target on AbbVie and gave the company a hold rating in a report on Friday, October 27th. BidaskClub upgraded AbbVie from a buy rating to a strong-buy rating in a report on Wednesday, September 6th. Piper Jaffray Companies raised their price target on AbbVie to $115.00 and gave the company an overweight rating in a report on Friday, October 27th. Finally, Zacks Investment Research cut AbbVie from a buy rating to a hold rating in a report on Friday, October 20th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $96.66.
Shares of AbbVie (ABBV) opened at $95.41 on Tuesday. The stock has a market capitalization of $152,012.06, a P/E ratio of 17.93, a P/E/G ratio of 1.34 and a beta of 1.52. AbbVie has a 12 month low of $58.80 and a 12 month high of $98.52. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.98%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. AbbVie’s payout ratio is presently 62.29%.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the transaction, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the transaction, the senior vice president now 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 three months, insiders sold 277,125 shares of company stock valued at $25,891,756. Corporate insiders own 0.23% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Shelton Capital Management raised its holdings in shares of AbbVie by 59.6% during the third quarter. Shelton Capital Management now owns 127,799 shares of the company’s stock valued at $11,356,000 after acquiring an additional 47,700 shares during the last quarter. GSB Wealth Management LLC acquired a new position in shares of AbbVie during the third quarter valued at approximately $240,000. Steward Partners Investment Advisory LLC acquired a new position in shares of AbbVie during the third quarter valued at approximately $5,754,000. Public Employees Retirement System of Ohio raised its holdings in shares of AbbVie by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 1,101,377 shares of the company’s stock valued at $97,868,000 after acquiring an additional 4,028 shares during the last quarter. Finally, Coastline Trust Co raised its holdings in shares of AbbVie by 9.8% during the third quarter. Coastline Trust Co now owns 19,600 shares of the company’s stock valued at $1,742,000 after acquiring an additional 1,744 shares during the last quarter. Institutional investors and hedge funds own 69.32% of the company’s stock.
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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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