AbbVie Receives Neutral Rating from UBS AG (ABBV)
AbbVie (NASDAQ:ABBV)‘s stock had its “neutral” rating reiterated by investment analysts at UBS AG in a note issued to investors on Monday, ARN reports. They currently have a $56.00 price target on the stock, up from their previous price target of $46.00. UBS AG’s price objective suggests a potential upside of 7.07% from the company’s current price.
Shares of AbbVie (NASDAQ:ABBV) traded down 3.21% on Monday, hitting $50.62. The stock had a trading volume of 6,055,615 shares. AbbVie has a 52-week low of $33.33 and a 52-week high of $54.78. The stock’s 50-day moving average is $50.96 and its 200-day moving average is $46.54. The company has a market cap of $80.385 billion and a price-to-earnings ratio of 18.44.
AbbVie (NASDAQ:ABBV) last posted its quarterly earnings results on Friday, October 25th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.52 billion. AbbVie’s revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that AbbVie will post $3.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, February 14th. Shareholders of record on Wednesday, January 15th will be paid a dividend of 0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, January 13th.
Several other analysts have also recently commented on the stock. Analysts at Bank of America Corp. reiterated a “buy” rating on shares of AbbVie in a research note to investors on Tuesday, December 31st. They now have a $56.00 price target on the stock, up previously from $53.00. Separately, analysts at Morgan Stanley downgraded shares of AbbVie from an “overweight” rating to an “equal weight” rating in a research note to investors on Thursday, December 19th. Finally, analysts at Morgan Stanley downgraded shares of AbbVie from an “overweight” rating to an “equal weight” rating in a research note to investors on Tuesday, December 17th. They now have a $57.00 price target on the stock. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $55.50.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
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