BidaskClub upgraded shares of AbbVie (NYSE:ABBV) from a buy rating to a strong-buy rating in a report issued on Saturday, November 11th.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut AbbVie from a buy rating to a hold rating in a research note on Wednesday, November 1st. SunTrust Banks reaffirmed a buy rating on shares of AbbVie in a research report on Monday, October 30th. Leerink Swann cut their price objective on AbbVie from $108.00 to $107.00 and set an outperform rating for the company in a report on Monday, October 30th. BMO Capital Markets set a $66.00 price objective on AbbVie and gave the company a hold rating in a report on Friday, October 27th. Finally, Piper Jaffray Companies increased their price target on 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, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $96.72.
Shares of AbbVie (ABBV) traded up $1.10 during mid-day trading on Friday, reaching $96.92. 7,889,581 shares of the company were exchanged, compared to its average volume of 6,138,278. AbbVie has a fifty-two week low of $58.75 and a fifty-two week high of $98.26. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The company has a market capitalization of $152,331.34, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.35 and a beta of 1.51.
The company 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 dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 62.29%.
In other news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now owns 492,030 shares in the company, valued at $46,255,740.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 277,125 shares of company stock worth $25,891,756. 0.23% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Bristlecone Advisors LLC purchased a new stake in AbbVie in the 3rd quarter worth approximately $113,000. Acropolis Investment Management LLC purchased a new stake in AbbVie in the 2nd quarter worth approximately $106,000. Ffcm LLC lifted its holdings in AbbVie by 167.2% in 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 lifted its holdings in AbbVie by 109.5% in 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. purchased a new stake in AbbVie in the 3rd quarter worth approximately $139,000. Institutional investors 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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