AbbVie Given “Buy” Rating at Jefferies Group (ABBV)
AbbVie (NASDAQ:ABBV)‘s stock had its “buy” rating reaffirmed by Jefferies Group in a research note issued on Friday, AR Network reports. They currently have a $54.00 price objective on the stock. Jefferies Group’s target price would suggest a potential upside of 21.81% from the company’s current price.
A number of other analysts have also recently weighed in on ABBV. Analysts at UBS AG raised their price target on shares of AbbVie (NASDAQ:ABBV) from $40.00 to $46.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Argus initiated coverage on shares of AbbVie (NASDAQ:ABBV) in a research note to investors on Monday, August 12th. They set a “buy” rating and a $52.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Morgan Joseph raised their price target on shares of AbbVie (NASDAQ:ABBV) from $41.00 to $46.00 in a research note to investors on Monday, July 29th. They now have a “neutral” rating on the stock. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.27.
In other AbbVie news, SVP Azita Saleki-Gerhardt unloaded 10,473 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $45.84, for a total value of $480,082.32. Following the sale, the senior vice president now directly owns 66,703 shares in the company, valued at approximately $3,057,666. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of AbbVie (NASDAQ:ABBV) traded down 1.49% during mid-day trading on Friday, hitting $44.33. The stock had a trading volume of 6,617,551 shares. AbbVie has a 52-week low of $33.33 and a 52-week high of $48.42. The stock has a 50-day moving average of $44.44 and a 200-day moving average of $43.53. The company has a market cap of $70.282 billion and a price-to-earnings ratio of 13.83.
AbbVie (NASDAQ:ABBV) last announced its earnings results on Friday, July 26th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.54 billion. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts predict that AbbVie will post $3.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Thursday, October 10th.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
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