AbbVie (NYSE:ABBV) received a $84.00 price target from investment analysts at BMO Capital Markets in a note issued to investors on Thursday. The firm currently has a “hold” rating on the stock. BMO Capital Markets’ price objective would suggest a potential downside of 16.28% from the company’s previous close.
Several other research firms have also recently weighed in on ABBV. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target on the stock. in a report on Monday, January 8th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Jefferies Group increased their price target on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a report on Tuesday, January 2nd. Finally, ValuEngine cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Seven investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $100.94.
AbbVie (NYSE:ABBV) traded up $1.07 during midday trading on Thursday, hitting $100.34. The stock had a trading volume of 4,372,638 shares, compared to its average volume of 4,460,000. The company has a market cap of $159,950.00, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie has a 12-month low of $59.27 and a 12-month high of $101.28.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. analysts expect that AbbVie will post 5.55 EPS for the current fiscal year.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock valued at $47,237,938 over the last 90 days. 0.23% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of ABBV. Capital Research Global Investors increased its stake in AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after buying an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. increased its stake in AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. BlackRock Inc. increased its stake in AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after buying an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd increased its stake in AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after buying an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd increased its stake in AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after buying an additional 937,500 shares in the last quarter. Hedge funds and other institutional investors own 69.18% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “AbbVie (ABBV) PT Set at $84.00 by BMO Capital Markets” was reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.dispatchtribunal.com/2018/01/14/abbvie-abbv-pt-set-at-84-00-by-bmo-capital-markets-2.html.
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.
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.