AbbVie’s (ABBV) “Buy” Rating Reiterated at Evercore ISI

AbbVie (NYSE:ABBV)‘s stock had its “buy” rating reaffirmed by Evercore ISI in a research report issued on Monday. They presently have a $144.00 target price on the stock. Evercore ISI’s target price would indicate a potential upside of 17.06% from the company’s current price.

Other research analysts also recently issued reports about the stock. BMO Capital Markets downgraded shares of AbbVie from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $125.86 to $59.27 in a report on Monday. UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a report on Friday, October 13th. Jefferies Group raised their price objective on shares of AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, October 16th. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $115.00 price objective for the company in a report on Thursday, January 18th. Finally, Piper Jaffray Companies raised their price objective on shares of AbbVie to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $111.27.

AbbVie (ABBV) traded down $0.20 during trading hours on Monday, reaching $123.01. 6,130,402 shares of the company’s stock traded hands, compared to its average volume of 5,864,031. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The stock has a market cap of $195,950.00, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.53. AbbVie has a 52-week low of $59.27 and a 52-week high of $125.86.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The company had revenue of $7.74 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the business posted $1.20 EPS. AbbVie’s quarterly revenue was up 13.9% compared to the same quarter last year. analysts expect that AbbVie will post 7.38 earnings per share for the current year.

In other AbbVie news, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at approximately $10,881,964.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the transaction, the chairman now directly owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 476,376 shares of company stock valued at $45,580,873. Insiders own 0.23% of the company’s stock.

A number of large investors have recently made changes to their positions in ABBV. Capital Research Global Investors lifted its holdings in shares of AbbVie by 1.2% during the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after acquiring an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after acquiring an additional 3,706,941 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after acquiring an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd lifted its holdings in shares of AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after acquiring an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd lifted its holdings in shares of AbbVie by 8.6% during the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after acquiring an additional 937,500 shares during the last quarter. 69.28% of the stock is owned by hedge funds and other institutional investors.

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About AbbVie

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.

Analyst Recommendations for AbbVie (NYSE:ABBV)

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