AbbVie Inc. (NYSE:ABBV) declared a quarterly dividend on Monday, September 12th. Shareholders of record on Friday, October 14th will be given a dividend of 0.57 per share on Tuesday, November 15th. This represents a $2.28 annualized dividend and a yield of 3.63%. The ex-dividend date is Wednesday, October 12th.
AbbVie (NYSE:ABBV) opened at 62.83 on Friday. The stock has a market capitalization of $102.32 billion, a P/E ratio of 18.12 and a beta of 1.50. The firm’s 50-day moving average is $64.24 and its 200 day moving average is $62.49. AbbVie has a 12-month low of $45.45 and a 12-month high of $68.12.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The company earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities analysts expect that AbbVie will post $4.81 EPS for the current year.
In related news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction on 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 directly owns 144,138 shares in the company, valued at $9,368,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. MCF Advisors LLC boosted its position in shares of AbbVie by 2.9% in the second quarter. MCF Advisors LLC now owns 3,550 shares of the company’s stock valued at $220,000 after buying an additional 100 shares during the period. Barr E S & Co. boosted its position in shares of AbbVie by 2.0% in the second quarter. Barr E S & Co. now owns 5,111 shares of the company’s stock valued at $316,000 after buying an additional 100 shares during the period. Laurel Wealth Advisors Inc. boosted its position in shares of AbbVie by 1.1% in the second quarter. Laurel Wealth Advisors Inc. now owns 14,932 shares of the company’s stock valued at $924,000 after buying an additional 156 shares during the period. Frontier Investment Mgmt Co. boosted its position in shares of AbbVie by 4.4% in the second quarter. Frontier Investment Mgmt Co. now owns 7,257 shares of the company’s stock valued at $431,000 after buying an additional 303 shares during the period. Finally, WFG Advisors LP boosted its position in shares of AbbVie by 1.7% in the second quarter. WFG Advisors LP now owns 19,055 shares of the company’s stock valued at $1,180,000 after buying an additional 326 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.
A number of research analysts have recently commented on the stock. Jefferies Group reaffirmed a “buy” rating and set a $90.00 price objective on shares of AbbVie in a research note on Wednesday. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Wednesday, September 28th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $78.00 target price on shares of AbbVie in a research report on Tuesday, September 27th. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $72.59 target price for the company in a research report on Thursday, September 8th. Finally, JPMorgan Chase & Co. downgraded shares of AbbVie from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $75.00 to $73.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $70.68.
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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