AbbVie (ABBV) Lowered to “Hold” at ValuEngine

ValuEngine cut shares of AbbVie (NYSE:ABBV) from a buy rating to a hold rating in a report released on Friday.

Several other equities analysts have also commented on the company. Argus lowered their target price on AbbVie from $145.00 to $130.00 and set a buy rating for the company in a report on Monday, June 11th. Credit Suisse Group set a $89.00 target price on AbbVie and gave the company a sell rating in a report on Wednesday, June 6th. Piper Jaffray Companies lowered AbbVie from an overweight rating to a neutral rating and lowered their target price for the company from $125.86 to $66.62 in a report on Friday, June 1st. Deutsche Bank lowered AbbVie from a neutral rating to an underperform rating and lowered their target price for the company from $125.86 to $65.61 in a report on Wednesday, May 30th. Finally, Deutsche Bank lowered AbbVie from a neutral rating to an underperform rating and lowered their target price for the company from $125.86 to $65.61 in a report on Wednesday, May 30th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. AbbVie currently has a consensus rating of Hold and a consensus price target of $106.51.

Shares of AbbVie opened at $93.49 on Friday, Marketbeat.com reports. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.10. The stock has a market capitalization of $151.63 billion, a P/E ratio of 16.69, a PEG ratio of 0.89 and a beta of 1.61. AbbVie has a fifty-two week low of $69.38 and a fifty-two week high of $125.86.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.79 by $0.08. The firm had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.60 billion. AbbVie had a return on equity of 186.47% and a net margin of 21.55%. AbbVie’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 earnings per share. equities research analysts anticipate that AbbVie will post 7.8 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Friday, July 13th will be given a dividend of $0.96 per share. The ex-dividend date is Thursday, July 12th. This represents a $3.84 annualized dividend and a dividend yield of 4.11%. AbbVie’s dividend payout ratio is presently 68.57%.

In other AbbVie news, Director Edward J. Rapp acquired 1,013 shares of AbbVie stock in a transaction dated Wednesday, June 20th. The stock was acquired at an average cost of $98.63 per share, for a total transaction of $99,912.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy J. Richmond sold 17,588 shares of the business’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $99.47, for a total value of $1,749,478.36. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Greenline Partners LLC lifted its position in AbbVie by 177.3% in the first quarter. Greenline Partners LLC now owns 23,844 shares of the company’s stock worth $2,257,000 after purchasing an additional 15,244 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in AbbVie in the first quarter worth approximately $445,000. Rikoon Group LLC lifted its position in AbbVie by 3.4% in the first quarter. Rikoon Group LLC now owns 94,912 shares of the company’s stock worth $8,680,000 after purchasing an additional 3,162 shares during the period. Private Vista LLC acquired a new stake in AbbVie in the first quarter worth approximately $551,000. Finally, Altium Wealth Management LLC acquired a new stake in AbbVie in the first quarter worth approximately $288,000. Hedge funds and other institutional investors own 69.40% of the company’s stock.

About AbbVie

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for AbbVie (NYSE:ABBV)

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