Vetr upgraded shares of AbbVie Inc. (NYSE:ABBV) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $76.28 price target on the stock.

A number of other research analysts have also weighed in on ABBV. Credit Suisse Group reissued a neutral rating and set a $74.00 price target (up previously from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Jefferies Group LLC reissued a buy rating and set a $94.00 price target (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Zacks Investment Research raised AbbVie from a sell rating to a hold rating in a research note on Thursday, July 13th. Deutsche Bank AG reissued a hold rating and set a $66.00 price target (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Finally, Leerink Swann set a $71.00 price target on AbbVie and gave the stock a hold rating in a research note on Thursday, April 20th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $74.52.

Shares of AbbVie (ABBV) opened at 70.44 on Wednesday. The firm has a 50-day moving average price of $72.04 and a 200-day moving average price of $66.14. The stock has a market cap of $112.11 billion, a P/E ratio of 18.26 and a beta of 1.51. AbbVie has a 52-week low of $55.06 and a 52-week high of $75.04.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts anticipate that AbbVie will post $5.53 EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.watchlistnews.com/abbvie-inc-abbv-upgraded-at-vetr-inc/1462151.html.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.64 per share. The ex-dividend date is Wednesday, July 12th. This represents a $2.56 annualized dividend and a dividend yield of 3.63%. AbbVie’s dividend payout ratio is presently 66.32%.

In related news, EVP Carlos Alban sold 43,000 shares of AbbVie stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $67.00, for a total value of $2,881,000.00. Following the completion of the transaction, the executive vice president now directly owns 114,745 shares in the company, valued at $7,687,915. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William J. Chase sold 38,300 shares of AbbVie stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $65.35, for a total value of $2,502,905.00. Following the completion of the transaction, the chief financial officer now owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The disclosure for this sale can be found here. Insiders have sold 278,135 shares of company stock valued at $18,841,085 over the last 90 days. Insiders own 0.23% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in AbbVie during the fourth quarter worth approximately $823,984,000. Glenview Capital Management LLC purchased a new position in AbbVie during the fourth quarter worth approximately $570,905,000. State Street Corp boosted its position in shares of AbbVie by 2.4% in the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after buying an additional 1,696,042 shares in the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of AbbVie during the first quarter worth about $46,744,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of AbbVie during the fourth quarter worth about $41,452,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

About AbbVie

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.

Analyst Recommendations for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.