AbbVie Inc. (ABBV) Earns Market Perform Rating from Analysts at Leerink Swann
Stock analysts at Leerink Swann initiated coverage on shares of AbbVie Inc. (NYSE:ABBV) in a report released on Tuesday, The Fly reports. The brokerage set a “market perform” rating on the stock.
Other equities research analysts also recently issued reports about the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Argus reiterated a “buy” rating and set a $85.00 price objective on shares of AbbVie in a research note on Monday, August 8th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $67.14 target price for the company in a research report on Monday, July 18th. Zacks Investment Research upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Barclays PLC restated an “equal weight” rating and set a $68.00 target price on shares of AbbVie in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.68.
AbbVie (NYSE:ABBV) opened at 60.14 on Tuesday. The company has a market cap of $97.94 billion, a P/E ratio of 17.35 and a beta of 1.50. The firm’s 50 day moving average is $63.38 and its 200 day moving average is $62.78. AbbVie has a 12-month low of $45.45 and a 12-month high of $68.12.
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AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The business earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts anticipate that AbbVie will post $4.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.79%. AbbVie’s dividend payout ratio is presently 65.71%.
In related news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the completion of the sale, the insider now owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. CapWealth Advisors LLC boosted its stake in shares of AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock valued at $103,000 after buying an additional 639 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at about $106,000. Glassman Wealth Services boosted its stake in shares of AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock valued at $113,000 after buying an additional 1,256 shares in the last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the second quarter valued at about $114,000. Finally, Hartford Financial Management Inc. boosted its stake in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares in the last quarter. 68.35% of the stock is owned by institutional investors.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. Its products are focused on treating conditions, such as chronic autoimmune diseases, in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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