AbbVie Inc. (ABBV) Rating Reiterated by Credit Suisse Group
AbbVie Inc. (NYSE:ABBV)‘s stock had its “neutral” rating reaffirmed by analysts at Credit Suisse Group in a report released on Thursday, The Fly reports. They presently have a $74.00 price target on the stock, up from their prior price target of $65.00. Credit Suisse Group’s price target would indicate a potential upside of 1.69% from the stock’s current price.
ABBV has been the subject of a number of other reports. Deutsche Bank AG reissued a “hold” rating and set a $66.00 target price (up from $65.00) on shares of AbbVie in a research note on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $94.00 target price (up previously from $92.00) on shares of AbbVie in a report on Monday. Zacks Investment Research upgraded AbbVie from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $74.86 price objective on the stock in a report on Thursday, July 6th. Finally, Leerink Swann set a $71.00 price objective on AbbVie and gave the stock a “hold” rating in a report on Thursday, April 20th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.42.
Shares of AbbVie (NYSE:ABBV) opened at 72.77 on Thursday. The company has a market cap of $115.82 billion, a PE ratio of 18.86 and a beta of 1.51. The stock’s 50 day moving average is $70.98 and its 200-day moving average is $65.70. AbbVie has a one year low of $55.06 and a one year high of $73.67.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Thursday, April 27th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.02. The business had revenue of $6.54 billion during the quarter, compared to analysts’ expectations of $6.49 billion. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.15 EPS. Equities research analysts expect that AbbVie will post $5.53 earnings per share for the current year.
In other AbbVie news, Chairman Richard A. Gonzalez sold 71,235 shares of AbbVie stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $65.49, for a total value of $4,665,180.15. Following the completion of the transaction, the chairman now directly owns 349,462 shares in the company, valued at $22,886,266.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO William J. Chase sold 38,300 shares of AbbVie stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total value of $2,502,905.00. Following the completion of the transaction, the chief financial officer now owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 278,135 shares of company stock valued at $18,841,085. 0.23% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. First Command Financial Services Inc. increased its position in shares of 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 position in shares of AbbVie during the second quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of AbbVie during the first quarter valued at about $108,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of AbbVie during the fourth quarter valued at about $137,000. Finally, Atwood & Palmer Inc. increased its position in shares of AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 68.04% 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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