AbbVie (ABBV) Given a $84.00 Price Target at BMO Capital Markets
ABBV has been the topic of a number of other reports. UBS restated a neutral rating on shares of AbbVie in a research note on Friday, October 13th. Jefferies Group lifted their price objective on shares of AbbVie from $107.00 to $115.00 and gave the company a buy rating in a research note on Monday, October 16th. Cowen restated a hold rating and set a $95.00 price objective (up from $70.00) on shares of AbbVie in a research note on Monday, September 11th. Evercore ISI assumed coverage on shares of AbbVie in a research note on Wednesday, August 16th. They set an outperform rating and a $95.00 price objective on the stock. Finally, Piper Jaffray Companies lifted their price objective on shares of AbbVie to $115.00 and gave the company an overweight rating in a research note on Friday, October 27th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $96.72.
Shares of AbbVie (NYSE ABBV) traded down $1.10 on Monday, hitting $95.22. 4,934,400 shares of the stock traded hands, compared to its average volume of 6,127,467. AbbVie has a 52 week low of $58.80 and a 52 week high of $98.52. The firm has a market capitalization of $152,460.00, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.36 and a beta of 1.53. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. equities analysts expect that AbbVie will post 5.55 EPS for the current fiscal year.
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 $0.71 dividend. The ex-dividend date of this dividend 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 2.98%. AbbVie’s payout ratio is 62.14%.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, 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 quarter, insiders sold 277,125 shares of company stock worth $25,891,756. 0.23% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Bristlecone Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth about $113,000. Acropolis Investment Management LLC acquired a new stake in AbbVie during the 2nd quarter worth about $106,000. Ffcm LLC raised its holdings in AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the period. Hudock Capital Group LLC raised its holdings in AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the period. Finally, Hershey Trust Co. acquired a new stake in AbbVie during the 3rd quarter worth about $139,000. Hedge funds and other institutional investors own 69.32% of the company’s stock.
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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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