AbbVie (ABBV) Lowered to “Buy” at Vetr
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of AbbVie from a buy rating to a hold rating in a research note on Friday, January 5th. Jefferies Group lifted their target price on shares of AbbVie from $115.00 to $120.00 and gave the company a buy rating in a research note on Thursday, January 4th. Piper Jaffray Companies reaffirmed a buy rating on shares of AbbVie in a research note on Tuesday, January 2nd. BMO Capital Markets set a $84.00 target price on shares of AbbVie and gave the company a hold rating in a research note on Wednesday, December 20th. Finally, ValuEngine lowered shares of AbbVie from a strong-buy rating to a buy rating in a research note on Friday, December 1st. Seven equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. AbbVie currently has an average rating of Buy and a consensus price target of $100.94.
Shares of AbbVie (NYSE:ABBV) opened at $99.27 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. The firm has a market cap of $158,250.00, a price-to-earnings ratio of 24.09, a PEG ratio of 1.20 and a beta of 1.53. AbbVie has a 52-week low of $59.27 and a 52-week high of $101.28.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.21 EPS. sell-side analysts expect that AbbVie will post 5.55 earnings per share for the current year.
The business also recently disclosed 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 2.86%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s payout ratio is presently 62.14%.
In related news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock valued at $47,237,938 over the last three months. 0.23% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ABBV. Jennison Associates LLC bought a new stake in AbbVie during the third quarter valued at approximately $544,418,000. Capital International Investors grew 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. grew 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 grew 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 grew its position in AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after buying an additional 3,340,038 shares during the period. Institutional investors own 69.18% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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