AbbVie (NYSE:ABBV) received a $98.00 price objective from stock analysts at Credit Suisse Group in a research report issued on Monday, January 22nd. The firm presently has a “hold” rating on the stock. Credit Suisse Group’s target price would indicate a potential downside of 13.34% from the company’s current price.
Other equities analysts have also recently issued research reports about the stock. Societe Generale boosted their price target on shares of AbbVie in a research report on Tuesday, November 21st. Argus upped their price objective on shares of AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Jefferies Group restated a “buy” rating and issued a $107.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a report on Tuesday, October 17th. Finally, BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. AbbVie currently has an average rating of “Buy” and a consensus target price of $117.26.
AbbVie (ABBV) traded up $1.22 during midday trading on Monday, hitting $113.08. 6,170,591 shares of the stock were exchanged, compared to its average volume of 7,360,000. AbbVie has a 52 week low of $60.15 and a 52 week high of $125.86. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The company has a market cap of $180,520.00, a P/E ratio of 27.45, a P/E/G ratio of 1.06 and a beta of 1.61.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The business had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the firm posted $1.20 earnings per share. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. sell-side analysts predict that AbbVie will post 7.46 earnings per share for the current fiscal year.
In related news, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $96.71, for a total transaction of $14,072,272.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the transaction, the chairman now owns 492,030 shares in the company, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 450,743 shares of company stock worth $43,153,684. Insiders own 0.23% of the company’s stock.
A number of institutional investors have recently modified their holdings of ABBV. Savant Capital LLC lifted its position in shares of AbbVie by 1.3% during the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after purchasing an additional 793 shares in the last quarter. Princeton Capital Management Inc. bought a new position in shares of AbbVie during the 2nd quarter worth approximately $1,394,000. Palisade Asset Management LLC lifted its position in shares of AbbVie by 17.9% during the 2nd quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after buying an additional 10,381 shares during the period. Beaton Management Co. Inc. bought a new position in shares of AbbVie during the 2nd quarter worth approximately $528,000. Finally, Greatmark Investment Partners Inc. lifted its position in shares of AbbVie by 3.7% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock worth $2,551,000 after buying an additional 1,242 shares during the period. Institutional investors own 69.33% 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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