AbbVie (NYSE:ABBV) Given New $0.00 Price Target at Societe Generale

AbbVie (NYSE:ABBV) had its target price lifted by equities researchers at Societe Generale in a report released on Tuesday, November 21st.

Several other research analysts have also issued reports on the company. Jefferies Group boosted their target price on AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets set a $66.00 target price on AbbVie and gave the stock a “hold” rating in a report on Friday, October 27th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Piper Jaffray Companies upped their target price on AbbVie to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Finally, Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $96.66.

Shares of AbbVie (NYSE ABBV) traded down $0.16 during mid-day trading on Tuesday, hitting $94.24. The stock had a trading volume of 4,524,544 shares, compared to its average volume of 6,113,947. AbbVie has a 1 year low of $59.09 and a 1 year high of $98.52. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The company has a market capitalization of $152,315.39, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52.

AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. research analysts forecast that AbbVie will post 5.55 EPS for the current fiscal year.

In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the 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 completion of the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. Insiders sold a total of 277,125 shares of company stock worth $25,891,756 over the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bristlecone Advisors LLC acquired a new stake in AbbVie in the 3rd quarter valued at approximately $113,000. Acropolis Investment Management LLC acquired a new stake in AbbVie in the 2nd quarter valued at approximately $106,000. Ffcm LLC increased its holdings in AbbVie by 167.2% in the 2nd 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 last quarter. Hudock Capital Group LLC increased 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 valued at $111,000 after purchasing an additional 806 shares during the last quarter. Finally, Hershey Trust Co. acquired a new stake in AbbVie in the 3rd quarter valued at approximately $139,000. Institutional investors and hedge funds own 69.32% of the company’s stock.

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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.

Analyst Recommendations for AbbVie (NYSE:ABBV)

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