AbbVie (NYSE:ABBV) had its price target decreased by Barclays from $120.00 to $102.00 in a research note published on Thursday morning. Barclays currently has an equal weight rating on the stock.
Other analysts also recently issued research reports about the stock. ValuEngine raised shares of AbbVie from a hold rating to a buy rating in a research report on Friday, February 2nd. Credit Suisse Group set a $135.00 price objective on shares of AbbVie and gave the stock a hold rating in a research report on Monday, January 29th. Leerink Swann downgraded shares of AbbVie from an outperform rating to a market perform rating and set a $127.00 price objective for the company. in a research report on Monday, January 29th. BMO Capital Markets reaffirmed a sell rating and set a $95.00 price objective on shares of AbbVie in a research report on Thursday, February 15th. Finally, Zacks Investment Research downgraded shares of AbbVie from a buy rating to a hold rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $117.38.
Shares of ABBV stock opened at $89.78 on Thursday. The company has a market cap of $142,568.22, a PE ratio of 16.03, a P/E/G ratio of 0.85 and a beta of 1.61. AbbVie has a 52 week low of $63.12 and a 52 week high of $125.86. The company has a debt-to-equity ratio of 6.07, a current ratio of 1.28 and a quick ratio of 1.18.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.44 by $0.04. The company had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.20 EPS. sell-side analysts expect that AbbVie will post 7.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.28%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s payout ratio is currently 50.71%.
AbbVie declared that its board has initiated a share buyback program on Thursday, February 15th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other AbbVie news, CFO William J. Chase sold 70,928 shares of AbbVie stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the transaction, the chief financial officer now directly owns 203,391 shares of the company’s stock, valued at approximately $23,833,357.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert A. Michael sold 992 shares of AbbVie stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. Insiders have sold a total of 211,197 shares of company stock worth $24,585,575 over the last ninety days. Insiders own 0.07% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of ABBV. Formidable Asset Management LLC raised its stake in shares of AbbVie by 0.3% during the 2nd quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock worth $285,000 after purchasing an additional 10 shares during the period. Aspen Investment Management Inc raised its stake in shares of AbbVie by 0.8% during the 2nd quarter. Aspen Investment Management Inc now owns 5,210 shares of the company’s stock worth $378,000 after purchasing an additional 40 shares during the period. Beaumont Financial Partners LLC raised its stake in shares of AbbVie by 1.0% during the 2nd quarter. Beaumont Financial Partners LLC now owns 5,616 shares of the company’s stock worth $407,000 after purchasing an additional 56 shares during the period. High Falls Advisors Inc raised its stake in shares of AbbVie by 1.4% during the 2nd quarter. High Falls Advisors Inc now owns 4,376 shares of the company’s stock worth $317,000 after purchasing an additional 60 shares during the period. Finally, Highland Private Wealth Management raised its stake in shares of AbbVie by 2.5% during the 2nd quarter. Highland Private Wealth Management now owns 3,259 shares of the company’s stock worth $236,000 after purchasing an additional 79 shares during the period. 70.54% of the stock is currently owned by hedge funds and other institutional investors.
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AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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