AbbVie Inc. (NYSE:ABBV) had its price objective hoisted by equities research analysts at Piper Jaffray Companies to $115.00 in a report released on Friday, October 27th. The firm presently has an “overweight” rating on the stock. Piper Jaffray Companies’ price target would indicate a potential upside of 20.51% from the company’s current price.
A number of other research firms have also recently commented on ABBV. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Evercore ISI reiterated an “outperform” rating and issued a $100.00 price objective (up previously from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Credit Suisse Group reiterated a “neutral” rating and issued a $74.00 price objective (up previously from $65.00) on shares of AbbVie in a report on Thursday, July 20th. Barclays PLC reissued a “hold” rating and set a $68.00 target price on shares of AbbVie in a research report on Thursday, September 28th. Finally, Cowen and Company raised shares of AbbVie from a “market perform” rating to an “outperform” rating and increased their target price for the company from $91.17 to $105.00 in a research report on Wednesday, October 11th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Buy” and an average price target of $93.68.
Shares of AbbVie (ABBV) opened at $95.43 on Friday. AbbVie has a 52-week low of $58.60 and a 52-week high of $98.26. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.25 and a current ratio of 1.45. The firm has a market cap of $152,347.33, a PE ratio of 17.97, a P/E/G ratio of 1.32 and a beta of 1.51.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. AbbVie’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. analysts expect that AbbVie will post 5.55 EPS for the current fiscal year.
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In other AbbVie news, VP Robert A. Michael sold 6,699 shares of AbbVie 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 completion of the transaction, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold a total of 33,299 shares of company stock worth $2,952,243 over the last quarter. Company insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Zeke Capital Advisors LLC grew its holdings in shares of AbbVie by 83.8% during the third quarter. Zeke Capital Advisors LLC now owns 25,493 shares of the company’s stock worth $2,265,000 after purchasing an additional 11,626 shares in the last quarter. Budros Ruhlin & Roe Inc. purchased a new position in shares of AbbVie during the third quarter worth about $289,000. Amalgamated Bank grew its holdings in shares of AbbVie by 2.2% during the third quarter. Amalgamated Bank now owns 192,210 shares of the company’s stock worth $17,080,000 after purchasing an additional 4,227 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new position in shares of AbbVie during the third quarter worth about $227,000. Finally, Dai Ichi Life Insurance Company Ltd grew its holdings in shares of AbbVie by 18.7% during the third quarter. Dai Ichi Life Insurance Company Ltd now owns 221,276 shares of the company’s stock worth $19,663,000 after purchasing an additional 34,810 shares in the last quarter. 68.52% of the stock is 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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