Deutsche Bank AG Boosts AbbVie Inc. (ABBV) Price Target to $88.00
ABBV has been the subject of a number of other research reports. Zacks Investment Research cut AbbVie from a hold rating to a sell rating in a report on Tuesday, July 4th. Vetr upgraded AbbVie from a hold rating to a buy rating and set a $76.28 target price on the stock in a research report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reaffirmed a buy rating and issued a $100.00 price target (up from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Jefferies Group LLC reaffirmed a buy rating and issued a $107.00 price target (up from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Finally, BidaskClub upgraded AbbVie from a buy rating to a strong-buy rating in a research report on Wednesday, September 6th. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. AbbVie currently has an average rating of Buy and a consensus target price of $87.84.
AbbVie (ABBV) opened at 88.86 on Thursday. AbbVie has a 12 month low of $55.06 and a 12 month high of $90.95. The company has a market cap of $141.65 billion, a price-to-earnings ratio of 21.85 and a beta of 1.51. The company’s 50 day moving average is $75.76 and its 200-day moving average is $69.87.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.26 earnings per share. On average, analysts expect that AbbVie will post $5.52 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.64 per share. The ex-dividend date is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.88%. AbbVie’s dividend payout ratio is currently 62.90%.
In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The disclosure for this sale can be found here. Insiders sold 379,890 shares of company stock worth $27,187,817 over the last quarter. 0.23% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in ABBV. NewSquare Capital LLC raised its holdings in AbbVie by 17.3% in the 1st quarter. NewSquare Capital LLC now owns 15,866 shares of the company’s stock valued at $1,034,000 after buying an additional 2,340 shares during the period. Nisa Investment Advisors LLC lifted its position in AbbVie by 1.9% in the first quarter. Nisa Investment Advisors LLC now owns 587,875 shares of the company’s stock valued at $38,306,000 after buying an additional 10,842 shares during the last quarter. Whitnell & Co. lifted its position in AbbVie by 2.7% in the first quarter. Whitnell & Co. now owns 48,147 shares of the company’s stock valued at $3,137,000 after buying an additional 1,280 shares during the last quarter. Alta Capital Management LLC lifted its position in AbbVie by 1.1% in the first quarter. Alta Capital Management LLC now owns 26,954 shares of the company’s stock valued at $1,756,000 after buying an additional 306 shares during the last quarter. Finally, Granite Investment Advisors LLC lifted its position in AbbVie by 28.5% in the first quarter. Granite Investment Advisors LLC now owns 5,548 shares of the company’s stock valued at $362,000 after buying an additional 1,231 shares during the last quarter. 68.26% of the stock is currently owned by institutional investors and hedge funds.
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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