AbbVie Inc. (ABBV) Given Buy Rating at Jefferies Group LLC
AbbVie Inc. (NYSE:ABBV)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a note issued to investors on Friday, Marketbeat reports. They currently have a $107.00 target price on the stock, up from their previous target price of $94.00. Jefferies Group LLC’s price target would indicate a potential upside of 22.47% from the company’s current price.
ABBV has been the subject of several other reports. Zacks Investment Research cut shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective for the company in a research report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $100.00 price objective (up from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Cowen and Company reaffirmed a “hold” rating and set a $95.00 price objective (up from $70.00) on shares of AbbVie in a research report on Monday, September 11th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 price objective (up from $65.00) on shares of AbbVie in a research report on Monday, July 17th. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $82.38.
AbbVie (NYSE:ABBV) opened at 87.37 on Friday. The firm has a 50 day moving average of $74.86 and a 200-day moving average of $69.44. AbbVie has a one year low of $55.06 and a one year high of $89.69. The firm has a market cap of $139.28 billion, a price-to-earnings ratio of 21.49 and a beta of 1.48.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the business earned $1.26 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast that AbbVie will post $5.52 EPS for the current fiscal year.
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In other news, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 193,131 shares of AbbVie stock in a transaction on Monday, August 7th. The stock was sold at an average price of $71.00, for a total value of $13,712,301.00. Following the sale, the chairman now directly owns 469,623 shares of the company’s stock, valued at approximately $33,343,233. The disclosure for this sale can be found here. Insiders have sold 373,191 shares of company stock valued at $26,598,305 in the last three months. Insiders own 0.23% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Frontier Investment Mgmt Co. lifted its holdings in shares of AbbVie by 34.8% during the second quarter. Frontier Investment Mgmt Co. now owns 9,979 shares of the company’s stock worth $724,000 after buying an additional 2,574 shares in the last quarter. W. E. Donoghue & Co. LLC acquired a new stake in shares of AbbVie during the second quarter worth $16,696,000. Intl Fcstone Inc. lifted its holdings in shares of AbbVie by 188.4% during the second quarter. Intl Fcstone Inc. now owns 30,430 shares of the company’s stock worth $2,206,000 after buying an additional 19,878 shares in the last quarter. M Holdings Securities Inc. lifted its holdings in shares of AbbVie by 51.5% during the second quarter. M Holdings Securities Inc. now owns 11,010 shares of the company’s stock worth $798,000 after buying an additional 3,745 shares in the last quarter. Finally, Griffin Asset Management Inc. acquired a new stake in shares of AbbVie during the second quarter worth $9,120,000. 68.29% of the stock is owned by institutional investors.
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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