BMO Capital Markets set a $84.00 price objective on AbbVie (NYSE:ABBV) in a report released on Thursday, January 11th. The firm currently has a hold rating on the stock.
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 for the company. in a research note on Monday, January 8th. Zacks Investment Research cut AbbVie from a buy rating to a hold rating in a research report on Friday, January 5th. Jefferies Group upped their price objective on AbbVie from $115.00 to $120.00 and gave the company a buy rating in a research report on Thursday, January 4th. Piper Jaffray Companies reiterated a buy rating on shares of AbbVie in a research report on Tuesday, January 2nd. Finally, ValuEngine lowered AbbVie from a strong-buy rating to a buy rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. AbbVie presently has an average rating of Buy and an average price target of $117.26.
Shares of AbbVie (ABBV) traded down $5.66 during trading hours on Thursday, reaching $109.51. The company’s stock had a trading volume of 9,600,000 shares, compared to its average volume of 5,950,000. The stock has a market capitalization of $174,570.00, a PE ratio of 26.58, a price-to-earnings-growth ratio of 1.09 and a beta of 1.61. AbbVie has a 1-year low of $60.05 and a 1-year high of $125.86. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The business had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the previous year, the business earned $1.20 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. sell-side analysts predict that AbbVie will post 7.46 EPS for the current fiscal year.
In other AbbVie news, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the sale, the executive vice president now directly owns 114,922 shares in the company, valued at $10,881,964.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares in the company, valued at $11,136,467.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 476,376 shares of company stock valued at $45,580,873. 0.23% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates LLC bought a new position in AbbVie in the third quarter worth approximately $544,418,000. Capital International Investors grew its stake in AbbVie by 137.7% in the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock worth $697,989,000 after purchasing an additional 4,550,954 shares in the last quarter. Vanguard Group Inc. grew its stake in AbbVie by 3.3% in the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC grew its stake in AbbVie by 1,949.7% in the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock worth $277,967,000 after purchasing an additional 3,646,510 shares in the last quarter. Finally, Orbis Allan Gray Ltd grew its stake in AbbVie by 35.7% in the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares in the last quarter. Hedge funds and other institutional investors own 69.54% of the company’s stock.
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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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