Several other analysts have also weighed in on ABBV. Vetr lowered AbbVie from a strong-buy rating to a buy rating and set a $113.08 price objective for the company. in a report on Monday, January 8th. Barclays restated a hold rating and issued a $68.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI restated an outperform rating and issued a $100.00 price objective (up previously from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Piper Jaffray Companies restated a buy rating on shares of AbbVie in a report on Tuesday, January 2nd. Finally, Jefferies Group restated a buy rating and issued a $107.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Seven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. AbbVie has an average rating of Buy and a consensus price target of $100.94.
Shares of AbbVie (NYSE:ABBV) traded up $1.07 during mid-day trading on Thursday, reaching $100.34. The company’s stock had a trading volume of 4,370,600 shares, compared to its average volume of 4,460,000. 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 has a one year low of $59.27 and a one year high of $101.28. The firm has a market cap of $159,950.00, a price-to-earnings ratio of 24.35, a PEG ratio of 1.18 and a beta of 1.53.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. analysts predict that AbbVie will post 5.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.83%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio is currently 68.93%.
In other news, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 114,922 shares of the company’s stock, 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, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of ABBV. Jennison Associates LLC acquired a new position in AbbVie during the third quarter valued at $544,418,000. Capital International Investors raised its position in AbbVie by 137.7% during the third quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock valued at $697,989,000 after buying an additional 4,550,954 shares during the period. Vanguard Group Inc. raised its position in AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after buying an additional 3,706,941 shares during the period. Janus Henderson Group PLC raised its position in AbbVie by 1,949.7% during the second quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after buying an additional 3,646,510 shares during the period. Finally, Orbis Allan Gray Ltd increased its position 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 purchasing an additional 3,340,038 shares during the last quarter. 69.18% of the stock is currently owned by hedge funds and other institutional investors.
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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