AbbVie (NYSE:ABBV) had its price objective increased by research analysts at SunTrust Banks to $157.00 in a research report issued to clients and investors on Monday, The Fly reports. The firm currently has an “average” rating on the stock. SunTrust Banks’ price objective points to a potential upside of 27.42% from the company’s previous close. SunTrust Banks also issued estimates for AbbVie’s Q4 2017 earnings at $1.45 EPS, FY2018 earnings at $6.66 EPS, FY2019 earnings at $8.04 EPS, FY2020 earnings at $9.22 EPS and FY2021 earnings at $10.15 EPS.
Other equities research analysts have also issued research reports about the stock. Leerink Swann lowered shares of AbbVie from an “outperform” rating to a “market perform” rating in a report on Monday. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. BMO Capital Markets set a $66.00 target price on shares of AbbVie and gave the stock a “hold” rating in a research report on Friday, October 27th. UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Finally, Barclays raised their target price on shares of AbbVie to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $106.44.
Shares of AbbVie (NYSE ABBV) opened at $123.21 on Monday. The stock has a market cap of $196,696.13, a price-to-earnings ratio of 37.45, a price-to-earnings-growth ratio of 1.28 and a beta of 1.52. AbbVie has a twelve month low of $59.27 and a twelve month high of $125.86. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. The business had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 EPS. equities 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 AbbVie stock in a transaction dated 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 $10,881,964.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 476,376 shares of company stock valued at $45,580,873. 0.23% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Hudock Capital Group LLC grew its stake in shares of AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares during the period. Ffcm LLC grew its position in AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after buying an additional 963 shares during the period. Bristlecone Advisors LLC bought a new stake in AbbVie during the third quarter valued at approximately $113,000. BDO Wealth Advisors LLC bought a new stake in AbbVie during the second quarter valued at approximately $115,000. Finally, Hershey Trust Co. bought a new stake in AbbVie during the third quarter valued at approximately $139,000. 69.28% of the stock is owned by institutional investors and hedge funds.
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.