AbbVie Inc. (ABBV) Given Average Rating of “Buy” by Brokerages
AbbVie Inc. (NYSE:ABBV) has been assigned an average recommendation of “Buy” from the twenty ratings firms that are currently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $89.90.
Several research firms have recently issued reports on ABBV. Credit Suisse Group reaffirmed a “hold” rating and issued a $65.00 price objective on shares of AbbVie in a research note on Wednesday, June 7th. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $72.72 target price on the stock. in a research report on Wednesday, June 14th. Societe Generale upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Leerink Swann restated a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd.
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AbbVie (ABBV) traded up 0.22% during mid-day trading on Wednesday, reaching $89.90. 3,228,544 shares of the company’s stock traded hands. The firm has a market cap of $143.31 billion, a price-to-earnings ratio of 22.11 and a beta of 1.51. AbbVie has a one year low of $55.06 and a one year high of $90.95. The firm’s 50-day moving average price is $80.54 and its 200 day moving average price is $71.50. AbbVie also was the recipient of some unusual options trading activity on Monday. Investors bought 278 put options on the company. This is an increase of approximately 121% compared to the average daily volume of 126 put options.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the business posted $1.26 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts forecast that AbbVie will post $5.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 annualized dividend and a yield of 2.85%. AbbVie’s dividend payout ratio (DPR) is currently 62.90%.
In other AbbVie news, insider Henry O. Gosebruch sold 18,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the transaction, the insider now directly owns 96,074 shares in the company, valued at approximately $6,733,826.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The disclosure for this sale can be found here. Insiders have sold a total of 379,890 shares of company stock worth $27,187,817 over the last 90 days. 0.23% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of ABBV. Formidable Asset Management LLC boosted its stake in shares of AbbVie by 0.3% during the second quarter. Formidable Asset Management LLC now owns 3,926 shares of the company’s stock valued at $285,000 after purchasing an additional 10 shares in the last quarter. WealthTrust Axiom LLC increased its holdings in AbbVie by 0.3% during the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock valued at $312,000 after buying an additional 15 shares during the period. Abner Herrman & Brock LLC raised its stake in AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after buying an additional 18 shares in the last quarter. Bollard Group LLC raised its stake in AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after buying an additional 19 shares in the last quarter. Finally, St. Louis Trust Co raised its stake in AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after buying an additional 23 shares in the last quarter. Institutional investors and hedge funds own 68.26% 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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