AbbVie Coverage Initiated by Analysts at Credit Suisse (ABBV)
Investment analysts at Credit Suisse assumed coverage on shares of AbbVie (NASDAQ:ABBV) in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating on the stock.
AbbVie (NASDAQ:ABBV) traded down 3.41% on Tuesday, hitting $44.52. The stock had a trading volume of 7,091,747 shares. AbbVie has a 52-week low of $33.33 and a 52-week high of $48.42. The stock’s 50-day moving average is $44.72 and its 200-day moving average is $43.95. The company has a market cap of $70.583 billion and a P/E ratio of 14.16.
AbbVie (NASDAQ:ABBV) last announced its earnings results on Friday, July 26th. The company reported $0.92 earnings per share for the quarter, beating the analysts’ 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. AbbVie’s revenue was up 4.4% compared to the same quarter last year. Analysts expect that AbbVie will post $3.13 EPS 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 3.59%. The ex-dividend date is Thursday, October 10th.
A number of other analysts have also recently weighed in on ABBV. Analysts at Jefferies Group reiterated a “buy” rating on shares of AbbVie in a research note to investors on Friday, September 27th. They now have a $54.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of AbbVie from $40.00 to $46.00 in a research note to investors on Friday, September 27th. They now have a “neutral” rating on the stock. Finally, analysts at Argus initiated coverage on shares of AbbVie 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. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $48.30.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
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