AbbVie (NYSE:ABBV) received a $98.00 price target from equities research analysts at Credit Suisse Group in a research note issued to investors on Monday. The brokerage presently has a “hold” rating on the stock. Credit Suisse Group’s price target would suggest a potential downside of 7.00% from the stock’s previous close.
A number of other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Monday. BMO Capital Markets set a $84.00 target price on shares of AbbVie and gave the company a “hold” rating in a research note on Thursday, January 11th. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 target price for the company. in a research note on Monday, January 8th. Jefferies Group raised their target price on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $101.63.
Shares of AbbVie (ABBV) traded down $1.11 during midday trading on Monday, hitting $105.38. 5,095,199 shares of the company’s stock were exchanged, compared to its average volume of 4,520,000. AbbVie has a fifty-two week low of $59.27 and a fifty-two week high of $106.97. The company has a market capitalization of $167,990.00, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. 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 announced its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the firm earned $1.21 earnings per share. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. research analysts forecast that AbbVie will post 5.56 earnings per share for the current year.
In related news, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the sale, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares in the company, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock valued at $47,237,938 in the last three months. 0.23% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of ABBV. Johanson Financial Advisors Inc. purchased a new stake in AbbVie in the second quarter worth approximately $224,000. Pure Financial Advisors Inc. boosted its holdings in AbbVie by 3.3% in the second quarter. Pure Financial Advisors Inc. now owns 11,108 shares of the company’s stock worth $805,000 after purchasing an additional 358 shares during the last quarter. Appleton Partners Inc. MA boosted its holdings in AbbVie by 9.9% in the second quarter. Appleton Partners Inc. MA now owns 69,330 shares of the company’s stock worth $5,027,000 after purchasing an additional 6,265 shares during the last quarter. Bank of Montreal Can boosted its holdings in AbbVie by 4.2% in the second quarter. Bank of Montreal Can now owns 2,131,209 shares of the company’s stock worth $154,534,000 after purchasing an additional 86,326 shares during the last quarter. Finally, Marshwinds Advisory Co. boosted its holdings in AbbVie by 0.8% in the second quarter. Marshwinds Advisory Co. now owns 33,855 shares of the company’s stock worth $2,455,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 69.22% of the company’s stock.
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AbbVie Company Profile
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.