AbbVie PT Raised to $72.00 (ABBV)
BMO Capital Markets increased their price objective on shares of AbbVie (NASDAQ:ABBV) from $68.00 to $72.00 in a research note issued on Monday. BMO Capital Markets’ target price indicates a potential upside of 31.27% from the company’s current price.
AbbVie (NASDAQ:ABBV) traded down 0.20% during mid-day trading on Monday, hitting $54.85. The stock had a trading volume of 30,823,346 shares. AbbVie has a one year low of $42.25 and a one year high of $58.27. The stock has a 50-day moving average of $54.97 and a 200-day moving average of $51.86. The company has a market cap of $87.215 billion and a P/E ratio of 21.39. AbbVie also saw unusually large options trading on Friday. Investors purchased 18,047 call options on the company. This is an increase of 621% compared to the average daily volume of 2,504 call options.
AbbVie (NASDAQ:ABBV) last announced its earnings results on Friday, April 25th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, analysts predict that AbbVie will post $3.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders 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 3.06%. The ex-dividend date of this dividend is Friday, July 11th.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of AbbVie in a research note on Monday. They now have a $71.00 price target on the stock, up previously from $66.00. Separately, analysts at Barclays upgraded shares of AbbVie from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, July 2nd. They now have a $69.00 price target on the stock, up previously from $44.00. Finally, analysts at Argus raised their price target on shares of AbbVie from $59.00 to $65.00 in a research note on Tuesday, June 24th. They now have a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. AbbVie has a consensus rating of “Buy” and an average target price of $61.09.
AbbVie Inc (NASDAQ:ABBV) is a research-based pharmaceuticals company.
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