AbbVie (NYSE:ABBV) had its price target raised by Jefferies Group from $115.00 to $120.00 in a report released on Thursday. Jefferies Group currently has a buy rating on the stock. Jefferies Group also issued estimates for AbbVie’s FY2018 earnings at $6.58 EPS, FY2019 earnings at $8.18 EPS, FY2020 earnings at $9.29 EPS, FY2021 earnings at $10.40 EPS and FY2022 earnings at $11.94 EPS.
A number of other brokerages have also issued reports on ABBV. BidaskClub raised AbbVie from a buy rating to a strong-buy rating in a research note on Wednesday, September 6th. Evercore ISI reaffirmed an outperform rating and issued a $100.00 price target (up from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Societe Generale lifted their price target on AbbVie in a research note on Tuesday, November 21st. Barclays reaffirmed a hold rating and issued a $68.00 price target on shares of AbbVie in a research note on Thursday, September 28th. Finally, ValuEngine lowered AbbVie from a strong-buy rating to a buy rating in a research note on Friday, December 1st. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $100.94.
Shares of AbbVie (NYSE:ABBV) traded up $1.05 on Thursday, reaching $100.43. The company’s stock had a trading volume of 2,218,921 shares, compared to its average volume of 4,280,800. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie has a one year low of $59.27 and a one year high of $100.12. The firm has a market capitalization of $160,080.00, a price-to-earnings ratio of 24.38, a P/E/G ratio of 1.18 and a beta of 1.53.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $1.21 earnings per share. AbbVie’s quarterly revenue was up 8.8% compared to the same quarter last year. analysts anticipate that AbbVie will post 5.55 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.83%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is 62.14%.
In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock worth $47,237,938 in the last three months. 0.23% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acropolis Investment Management LLC purchased a new stake in AbbVie in the second quarter valued at $106,000. Hudock Capital Group LLC raised its position in AbbVie by 109.5% in the second 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. Ffcm LLC raised its position in AbbVie by 167.2% in the second 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. Bristlecone Advisors LLC purchased a new stake in AbbVie in the third quarter valued at $113,000. Finally, BDO Wealth Advisors LLC purchased a new stake in AbbVie in the second quarter valued at $115,000. 69.18% of the stock is currently owned by institutional investors.
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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