AbbVie Given Average Rating of “Buy” by Brokerages (NASDAQ:ABBV)
AbbVie (NASDAQ:ABBV) has been given an average recommendation of “Buy” by the twelve analysts that are currently covering the stock, ARN reports. Two analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $57.22.
A number of analysts have recently weighed in on ABBV shares. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of AbbVie in a research note on Monday, June 2nd. They now have a $60.00 price target on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of AbbVie from $57.00 to $60.00 in a research note on Monday, June 2nd. They now have an “outperform” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of AbbVie in a research note on Thursday, May 29th. They now have a $57.00 price target on the stock.
AbbVie (NASDAQ:ABBV) opened at 54.19 on Friday. AbbVie has a 1-year low of $41.07 and a 1-year high of $55.40. The stock’s 50-day moving average is $53.44 and its 200-day moving average is $51.41. The company has a market cap of $86.166 billion and a P/E ratio of 21.09.
AbbVie (NASDAQ:ABBV) last posted its quarterly earnings results on Friday, April 25th. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.68 by $0.03. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis. On average, analysts predict that AbbVie will post $3.14 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Tuesday, July 15th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.10%.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
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