Piper Jaffray Companies reissued their buy rating on shares of AbbVie Inc. (NYSE:ABBV) in a report issued on Friday, September 15th. Piper Jaffray Companies currently has a $100.00 target price on the stock.
ABBV has been the topic of several other research reports. Jefferies Group LLC reiterated a buy rating on shares of AbbVie in a research note on Friday, May 26th. Credit Suisse Group reiterated a hold rating and issued a $65.00 target price on shares of AbbVie in a research note on Wednesday, June 7th. BidaskClub upgraded shares of AbbVie from a buy rating to a strong-buy rating in a research note on Saturday, June 10th. Vetr downgraded shares of AbbVie from a buy rating to a hold rating and set a $72.72 target price on the stock. in a research note on Wednesday, June 14th. Finally, Societe Generale raised shares of AbbVie from a hold rating to a buy rating in a report on Thursday, June 22nd. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. AbbVie currently has an average rating of Buy and a consensus target price of $83.02.
Shares of AbbVie (NYSE ABBV) opened at 86.57 on Friday. The firm has a 50 day moving average price of $75.76 and a 200 day moving average price of $69.87. AbbVie has a 1-year low of $55.06 and a 1-year high of $89.69. The firm has a market cap of $138.00 billion, a P/E ratio of 21.29 and a beta of 1.48.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping 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 business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the previous year, the firm posted $1.26 earnings per share. AbbVie’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts anticipate that AbbVie will post $5.52 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 annualized dividend and a dividend yield of 2.93%. AbbVie’s dividend payout ratio (DPR) is presently 62.90%.
In other AbbVie news, Director Edward J. Rapp bought 4,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were acquired at an average price of $70.45 per share, with a total value of $281,800.00. Following the transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the transaction, the senior vice president now directly owns 93,099 shares in the company, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. Insiders sold a total of 373,191 shares of company stock valued at $26,598,305 in the last 90 days. Company insiders own 0.23% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Accident Compensation Corp boosted its holdings in shares of AbbVie by 24.7% in the 1st quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after buying an additional 13,100 shares in the last quarter. Investec Asset Management LTD boosted its holdings 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 valued at $10,880,000 after buying an additional 5,801 shares in the last quarter. Comerica Securities Inc. boosted its holdings in shares of AbbVie by 832.7% in the 1st quarter. Comerica Securities Inc. now owns 66,443 shares of the company’s stock valued at $4,329,000 after buying an additional 59,319 shares in the last quarter. Suntrust Banks Inc. boosted its holdings in shares of AbbVie by 3.7% in the 1st quarter. Suntrust Banks Inc. now owns 1,216,484 shares of the company’s stock valued at $79,265,000 after buying an additional 43,617 shares in the last quarter. Finally, Clean Yield Group boosted its holdings in shares of AbbVie by 25.0% in the 1st quarter. Clean Yield Group now owns 9,598 shares of the company’s stock valued at $625,000 after buying an additional 1,920 shares in the last quarter. Institutional investors and hedge funds own 68.25% of the company’s stock.
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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