AbbVie Inc. (ABBV) Stock Rating Reaffirmed by Credit Suisse Group
AbbVie Inc. (NYSE:ABBV)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Credit Suisse Group in a research report issued to clients and investors on Sunday. They presently have a $94.00 price target on the stock, up from their prior price target of $74.00. Credit Suisse Group’s target price points to a potential upside of 5.78% from the stock’s current price.
Several other equities research analysts have also recently issued reports on ABBV. Barclays PLC restated a “hold” rating and set a $68.00 price objective on shares of AbbVie in a research report on Thursday. Evercore ISI reiterated an “outperform” rating and set a $100.00 price target (up from $95.00) on shares of AbbVie in a research report on Saturday. Piper Jaffray Companies reiterated a “buy” rating and set a $85.00 price target on shares of AbbVie in a research report on Thursday, August 3rd. BMO Capital Markets reiterated a “hold” rating and set a $66.00 price target on shares of AbbVie in a research report on Thursday. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $107.00 price target on shares of AbbVie in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $87.84.
Shares of AbbVie (ABBV) traded down 0.11% during trading on Friday, reaching $88.86. 6,769,367 shares of the company traded hands. The stock has a market capitalization of $141.65 billion, a PE ratio of 16.89 and a beta of 1.48. The firm has a 50 day moving average of $75.76 and a 200 day moving average of $69.87. AbbVie has a 52 week low of $55.06 and a 52 week high of $90.95.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $1.26 earnings per share. AbbVie’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts predict that AbbVie will post $5.52 EPS for the current year.
In other news, insider Henry O. Gosebruch sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the completion of the sale, the insider now owns 96,074 shares in the company, valued at approximately $6,733,826.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the sale, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. Insiders sold 379,890 shares of company stock valued at $27,187,817 in the last quarter. 0.23% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Acropolis Investment Management LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth approximately $106,000. Ffcm LLC lifted its position in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the last quarter. Hudock Capital Group LLC lifted its position in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the last quarter. BDO Wealth Advisors LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth approximately $115,000. Finally, Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of AbbVie during the 1st quarter worth approximately $108,000. Institutional investors and hedge funds own 68.25% 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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