AbbVie Inc (ABBV) Stock Rating Reaffirmed by Jefferies Group LLC
AbbVie Inc (NYSE:ABBV)‘s stock had its “buy” rating reissued by equities research analysts at Jefferies Group LLC in a report issued on Friday.
A number of other equities analysts have also commented on ABBV. BMO Capital Markets reaffirmed a “market perform” rating and set a $66.00 price target on shares of AbbVie in a research report on Wednesday, May 17th. Vetr lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 target price on the stock. in a report on Monday, May 15th. Leerink Swann set a $71.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, April 20th. Finally, Deutsche Bank AG raised their target price on shares of AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a report on Friday, April 28th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Hold” and an average target price of $72.18.
AbbVie (NYSE:ABBV) traded down 0.39% during mid-day trading on Friday, reaching $66.06. 4,083,006 shares of the company were exchanged. The stock has a market capitalization of $105.14 billion, a price-to-earnings ratio of 17.12 and a beta of 1.57. The company’s 50 day moving average price is $65.50 and its 200-day moving average price is $63.22. AbbVie has a 12-month low of $55.06 and a 12-month high of $68.12.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Thursday, April 27th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. AbbVie had a net margin of 23.22% and a return on equity of 141.55%. The business had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.49 billion. During the same period last year, the firm earned $1.15 earnings per share. AbbVie’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that AbbVie will post $5.53 earnings per share for the current fiscal year.
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In related news, insider Laura J. Schumacher sold 40,000 shares of AbbVie stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $65.26, for a total transaction of $2,610,400.00. Following the sale, the insider now directly owns 147,415 shares of the company’s stock, valued at approximately $9,620,302.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carlos Alban sold 43,000 shares of AbbVie stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $67.00, for a total transaction of $2,881,000.00. Following the sale, the executive vice president now directly owns 114,745 shares in the company, valued at $7,687,915. The disclosure for this sale can be found here. Insiders have sold a total of 292,134 shares of company stock worth $19,087,407 over the last ninety days. 0.11% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of ABBV. Beacon Capital Management increased its stake in AbbVie by 150.0% in the fourth quarter. Beacon Capital Management now owns 5 shares of the company’s stock valued at $0 after buying an additional 3 shares in the last quarter. Community Bank & Trust of Waco, Texas acquired a new stake in AbbVie during the fourth quarter valued at approximately $1,819,000. First Command Financial Services Inc. increased its stake in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in AbbVie during the second quarter valued at approximately $106,000. Finally, Penserra Capital Management LLC increased its stake in AbbVie by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,764 shares of the company’s stock valued at $111,000 after buying an additional 882 shares in the last quarter. Institutional investors and hedge funds own 66.67% of the company’s stock.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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