AbbVie Inc. (NYSE:ABBV)‘s stock had its “buy” rating restated by stock analysts at Jefferies Group LLC in a research report issued on Friday. They currently have a $107.00 target price on the stock, up from their prior target price of $94.00. Jefferies Group LLC’s price target would suggest a potential upside of 22.47% from the stock’s current price.
Several other brokerages have also issued reports on ABBV. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Credit Suisse Group reiterated a “neutral” rating and issued a $74.00 price target (up from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Leerink Swann reiterated a “market perform” rating on shares of AbbVie in a research note on Thursday, June 22nd. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price target on the stock. in a research note on Thursday, July 20th. Finally, Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $82.38.
Shares of AbbVie (NYSE ABBV) opened at 87.37 on Friday. The company has a 50-day moving average of $74.86 and a 200-day moving average of $69.44. AbbVie has a one year low of $55.06 and a one year high of $89.69. The company has a market capitalization of $139.28 billion, a PE ratio of 21.49 and a beta of 1.48.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the business earned $1.26 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, analysts anticipate that AbbVie will post $5.52 earnings per share for the current year.
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In related news, Director Edward J. Rapp bought 4,000 shares of AbbVie stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $70.45 per share, with a total value of $281,800.00. Following the acquisition, the director now owns 15,498 shares of the company’s stock, valued at approximately $1,091,834.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Henry O. Gosebruch sold 18,000 shares of AbbVie stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the sale, the insider now directly owns 96,074 shares of the company’s stock, valued at approximately $6,733,826.66. The disclosure for this sale can be found here. Insiders have sold a total of 373,191 shares of company stock valued at $26,598,305 in the last ninety days. 0.23% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. First Command Financial Services Inc. boosted its holdings in shares of AbbVie by 6.8% during the 1st quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares during the period. Acropolis Investment Management LLC bought a new stake in shares of AbbVie during the 2nd quarter worth about $106,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of AbbVie during the 1st quarter worth about $108,000. Hudock Capital Group LLC boosted its holdings in shares of 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, Ffcm LLC boosted its holdings in shares of 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. 68.29% of the stock is owned by institutional investors and hedge funds.
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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