BidaskClub upgraded shares of AbbVie Inc. (NYSE:ABBV) from a buy rating to a strong-buy rating in a research report released on Saturday.
Other equities analysts have also issued research reports about the stock. SunTrust Banks, Inc. reiterated a buy rating and set a $95.00 price objective on shares of AbbVie in a research report on Wednesday, September 13th. Vetr upgraded shares of AbbVie from a hold rating to a buy rating and set a $76.28 target price for the company in a report on Wednesday, July 26th. Jefferies Group LLC restated a buy rating and issued a $94.00 target price (up previously from $92.00) on shares of AbbVie in a report on Monday, July 17th. Goldman Sachs Group, Inc. (The) restated a buy rating and issued a $100.00 target price (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Finally, Piper Jaffray Companies restated a buy rating and issued a $85.00 target price on shares of AbbVie in a report on Thursday, August 3rd. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $93.68.
AbbVie (ABBV) opened at $94.75 on Friday. AbbVie has a 12-month low of $58.60 and a 12-month high of $98.26. 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 company has a market cap of $149,650.00, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.52.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the business earned $1.21 earnings per share. AbbVie’s quarterly revenue was up 8.8% compared to the same quarter last year. equities research analysts forecast that AbbVie will post 5.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 61.84%.
In other AbbVie news, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the transaction, the executive vice president now owns 114,922 shares of the company’s stock, valued at approximately $10,881,964.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. 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 in the last three months. Insiders own 0.23% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Savant Capital LLC increased its position in AbbVie by 1.3% during the 2nd quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after purchasing an additional 793 shares during the period. Princeton Capital Management Inc. purchased a new position in shares of AbbVie in the 2nd quarter worth approximately $1,394,000. Accident Compensation Corp grew its position in shares of AbbVie by 24.7% in the 1st quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock worth $4,314,000 after buying an additional 13,100 shares during the last quarter. Investec Asset Management LTD grew its position in shares of AbbVie by 3.6% in the 1st quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock worth $10,880,000 after buying an additional 5,801 shares during the last quarter. Finally, Palisade Asset Management LLC grew its position in shares of AbbVie by 17.9% in the 2nd quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after buying an additional 10,381 shares during the last quarter. 68.16% of the stock is currently 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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