Research Analysts’ Weekly Ratings Changes for AbbVie (ABBV)
Several analysts have recently updated their ratings and price targets for AbbVie (NYSE: ABBV):
- 10/18/2016 – AbbVie is now covered by analysts at Leerink Swann. They set a “market perform” rating on the stock.
- 10/5/2016 – AbbVie had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $90.00 price target on the stock.
- 9/28/2016 – AbbVie was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $72.00 price target on the stock. According to Zacks, “AbbVie’s key drug Humira has been performing well and sales should continue to be driven by growing awareness, favorable clinical data, additional indications and expansion into new markets. Moreover, products like Viekira and Imbruvica have diversified AbbVie’s revenue base. Imbruvica has multi-billion dollar potential and AbbVie is exploring the potential to expand Imbruvica’s label into solid tumors and autoimmune diseases. AbbVie has a deep and promising pipeline and is also working on expanding its portfolio though additional deals. However, Viekira is facing intense pricing pressure and competition in the HCV market. Additionally, quite a few companies are working on bringing Humira biosimilars to market. Amgen’s biosimilar version of Humira received FDA approval in Sep 2016. Abbvie could see some of its dominant share in the arthritis market contract when Amgen’s new drug is launched.”
- 9/27/2016 – AbbVie had its “buy” rating reaffirmed by analysts at Goldman Sachs Group Inc.. They now have a $78.00 price target on the stock.
- 9/8/2016 – AbbVie was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $73.00 price target on the stock, down previously from $75.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
- 9/8/2016 – AbbVie had its “buy” rating reaffirmed by analysts at Goldman Sachs Group Inc.. They now have a $78.00 price target on the stock.
- 9/8/2016 – AbbVie was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $72.59 price target on the stock.
- 9/1/2016 – AbbVie is now covered by analysts at Raymond James Financial Inc.. They set an “outperform” rating and a $82.00 price target on the stock.
- 8/25/2016 – AbbVie had its “buy” rating reaffirmed by analysts at Jefferies Group.
- 8/25/2016 – AbbVie was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $67.63 price target on the stock.
Shares of AbbVie Inc. (NYSE:ABBV) opened at 60.14 on Tuesday. The company has a 50 day moving average price of $63.38 and a 200-day moving average price of $62.78. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12. The firm has a market capitalization of $97.94 billion, a PE ratio of 17.35 and a beta of 1.50.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter last year, the firm earned $1.08 earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 65.71%.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. Following the transaction, the insider now directly owns 144,138 shares of the company’s stock, valued at $9,368,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by company insiders.
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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