A number of other equities analysts have also commented on ABBV. Credit Suisse Group AG reaffirmed a buy rating on shares of AbbVie in a research note on Sunday, July 10th. Vetr lowered shares of AbbVie from a buy rating to a hold rating and set a $67.01 price objective for the company. in a research note on Tuesday, July 26th. Jefferies Group reaffirmed a buy rating on shares of AbbVie in a research note on Monday, June 6th. BMO Capital Markets reaffirmed a market perform rating and issued a $66.00 price objective on shares of AbbVie in a research note on Friday, July 29th. Finally, Zacks Investment Research raised shares of AbbVie from a sell rating to a hold rating in a research note on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie has a consensus rating of Buy and a consensus target price of $70.68.
Shares of AbbVie (NYSE:ABBV) opened at 63.07 on Tuesday. The firm has a market capitalization of $102.71 billion, a P/E ratio of 18.19 and a beta of 1.50. The company has a 50-day moving average price of $64.69 and a 200 day moving average price of $62.29. AbbVie has a one year low of $45.45 and a one year high of $68.12.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.06. The firm earned $6.43 billion during the quarter, compared to analysts’ expectations of $6.20 billion. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. Analysts expect that AbbVie will post $4.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.62%. AbbVie’s dividend payout ratio (DPR) is presently 65.71%.
In related news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the transaction, the insider now owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. CapWealth Advisors LLC raised its stake in AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock valued at $103,000 after buying an additional 639 shares in the last quarter. Acropolis Investment Management LLC bought a new stake in AbbVie during the second quarter valued at about $106,000. Glassman Wealth Services raised its stake in AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock valued at $113,000 after buying an additional 1,256 shares in the last quarter. Cypress Capital Management LLC WY bought a new stake in AbbVie during the second quarter valued at about $114,000. Finally, Hartford Financial Management Inc. raised its stake in AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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