AbbVie Inc. (ABBV) Stock Rating Reaffirmed by BMO Capital Markets
AbbVie Inc. (NYSE:ABBV)‘s stock had its “hold” rating reissued by research analysts at BMO Capital Markets in a note issued to investors on Tuesday. They presently have a $84.00 price target on the stock. BMO Capital Markets’ target price points to a potential downside of 11.16% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $85.00 target price on shares of AbbVie in a research report on Thursday, August 3rd. Societe Generale upped their target price on AbbVie in a research report on Tuesday. Evercore ISI began coverage on AbbVie in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 target price on the stock. BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $95.00 target price on shares of AbbVie in a research report on Wednesday, September 13th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $94.68.
AbbVie (ABBV) traded down $0.13 during trading on Tuesday, hitting $94.55. The stock had a trading volume of 1,033,098 shares, compared to its average volume of 6,192,569. AbbVie has a 52 week low of $58.60 and a 52 week high of $98.26. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The firm has a market capitalization of $151,060.00, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the business earned $1.21 earnings per share. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. sell-side analysts predict that AbbVie will post 5.55 EPS for the current year.
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In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the sale, the executive vice president now owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The disclosure for this sale can be found here. Insiders have sold 58,932 shares of company stock valued at $5,379,432 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its stake in shares of AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after acquiring an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after acquiring an additional 3,706,941 shares during the last quarter. BlackRock Inc. lifted its stake in shares of AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after acquiring an additional 1,864,418 shares during the last quarter. State Street Corp lifted its stake in shares of AbbVie by 2.4% in the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after acquiring an additional 1,696,042 shares during the last quarter. Finally, Orbis Allan Gray Ltd lifted its stake in shares of AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after acquiring an additional 3,340,038 shares during the last quarter. Hedge funds and other institutional investors own 67.65% of the company’s stock.
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.
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