AbbVie Inc. (NYSE:ABBV) has earned a consensus recommendation of “Buy” from the eighteen analysts that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $69.43.
ABBV has been the topic of a number of research reports. JPMorgan Chase & Co. cut AbbVie from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $75.00 to $73.00 in a research note on Thursday, September 8th. They noted that the move was a valuation call. Morgan Stanley cut AbbVie from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $73.00 to $65.00 in a research note on Wednesday, June 8th. Jefferies Group restated a “buy” rating on shares of AbbVie in a research note on Thursday, August 25th. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $67.14 price target on the stock in a research note on Monday, July 18th. Finally, Barclays PLC restated an “equal weight” rating and set a $68.00 price target on shares of AbbVie in a research note on Tuesday, August 2nd.
In related news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the transaction, the insider now owns 144,138 shares of the company’s stock, valued at $9,368,970. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in AbbVie by 100.6% in the second quarter. Capital Research Global Investors now owns 152,718,713 shares of the company’s stock worth $9,439,710,000 after buying an additional 76,593,054 shares in the last quarter. Vanguard Group Inc. raised its position in AbbVie by 1.0% in the second quarter. Vanguard Group Inc. now owns 104,083,008 shares of the company’s stock worth $6,443,780,000 after buying an additional 998,196 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in AbbVie by 0.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 42,335,781 shares of the company’s stock worth $2,621,008,000 after buying an additional 370,153 shares in the last quarter. BlackRock Fund Advisors raised its position in AbbVie by 1.2% in the second quarter. BlackRock Fund Advisors now owns 20,072,568 shares of the company’s stock worth $1,242,693,000 after buying an additional 241,624 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in AbbVie by 0.7% in the first quarter. Geode Capital Management LLC now owns 13,051,181 shares of the company’s stock worth $743,963,000 after buying an additional 93,719 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie (NYSE:ABBV) opened at 63.23 on Thursday. The company’s 50-day moving average price is $64.57 and its 200 day moving average price is $62.43. AbbVie has a 52 week low of $45.45 and a 52 week high of $68.12. The stock has a market capitalization of $102.97 billion, a P/E ratio of 18.24 and a beta of 1.50.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 29th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. Equities research analysts expect that AbbVie will post $4.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Wednesday, October 12th. AbbVie’s payout ratio is 65.71%.
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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