AbbVie (NYSE:ABBV) had its price objective boosted by equities research analysts at Jefferies Group from $115.00 to $120.00 in a research note issued to investors on Thursday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s target price points to a potential upside of 21.06% from the stock’s previous close.
Several other brokerages have also weighed in on ABBV. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Evercore ISI reiterated an “outperform” rating and issued a $100.00 price objective (up from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Societe Generale upped their price target on AbbVie in a research note on Tuesday, November 21st. Barclays restated a “hold” rating and set a $68.00 price target on shares of AbbVie in a research note on Thursday, September 28th. Finally, ValuEngine cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $100.94.
Shares of AbbVie (NYSE ABBV) traded down $0.83 during trading on Thursday, reaching $99.13. The company had a trading volume of 531,887 shares, compared to its average volume of 4,631,750. The stock has a market capitalization of $157,750.00, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.53. AbbVie has a 52 week low of $59.27 and a 52 week high of $100.10. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 earnings per share. equities research analysts predict that AbbVie will post 5.55 earnings per share for the current fiscal year.
In other news, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 494,676 shares of company stock worth $47,237,938. Insiders own 0.23% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ABBV. Savant Capital LLC grew its holdings in shares of AbbVie by 1.3% during the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after purchasing an additional 793 shares during the last quarter. Princeton Capital Management Inc. purchased a new position in shares of AbbVie during the second quarter worth about $1,394,000. Accident Compensation Corp grew its holdings in shares of AbbVie by 24.7% during the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock worth $4,314,000 after buying an additional 13,100 shares during the last quarter. Investec Asset Management LTD grew its holdings in shares of AbbVie by 3.6% during the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock worth $10,880,000 after buying an additional 5,801 shares during the last quarter. Finally, Palisade Asset Management LLC grew its holdings in shares of AbbVie by 17.9% during the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after buying an additional 10,381 shares during the last quarter. Institutional investors and hedge funds own 69.18% of the company’s stock.
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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.