BMO Capital Markets set a $84.00 price target on AbbVie (NYSE:ABBV) in a research report released on Wednesday, December 20th. The firm currently has a hold rating on the stock.
ABBV has been the topic of several other research reports. Zacks Investment Research lowered shares of AbbVie from a buy rating to a hold rating in a research report on Friday, October 20th. ValuEngine lowered shares of AbbVie from a strong-buy rating to a buy rating in a research report on Friday, December 1st. BidaskClub raised shares of AbbVie from a buy rating to a strong-buy rating in a research report on Saturday, November 11th. Leerink Swann set a $106.00 price target on shares of AbbVie and gave the company a buy rating in a research report on Tuesday, December 5th. Finally, Societe Generale lifted their price target on shares of AbbVie in a research report on Tuesday, November 21st. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $100.94.
AbbVie (NYSE ABBV) traded down $0.42 during trading hours on Wednesday, hitting $99.27. 4,240,900 shares of the stock traded hands, compared to its average volume of 4,480,000. AbbVie has a one year low of $59.27 and a one year high of $101.28. 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 $158,250.00, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the 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 company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the company posted $1.21 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. equities analysts forecast that AbbVie will post 5.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.86%. 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 payout ratio is currently 62.14%.
In related news, EVP Michael Severino sold 25,633 shares of AbbVie stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the insider now directly owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock worth $47,237,938 in the last 90 days. 0.23% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Acropolis Investment Management LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $106,000. Hudock Capital Group LLC grew its position in shares of AbbVie by 109.5% during 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. Ffcm LLC grew its position in shares of AbbVie by 167.2% during 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. Bristlecone Advisors LLC acquired a new position in shares of AbbVie during the 3rd quarter worth about $113,000. Finally, BDO Wealth Advisors LLC acquired a new position in shares of AbbVie during the 2nd quarter worth about $115,000. 69.18% of the stock is owned by hedge funds and other institutional investors.
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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.
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