AbbVie Inc. (NYSE:ABBV) has been assigned a $70.00 price objective by research analysts at Cowen and Company in a note issued to investors on Sunday, July 30th. The brokerage presently has a “hold” rating on the stock. Cowen and Company’s price objective indicates a potential downside of 0.89% from the company’s current price.
Several other research firms have also recently weighed in on ABBV. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price objective for the company in a report on Monday, May 8th. Credit Suisse Group reissued a “neutral” rating and set a $74.00 price objective (up from $65.00) on shares of AbbVie in a report on Thursday, July 20th. BMO Capital Markets set a $63.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, April 27th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $74.66.
Shares of AbbVie (NYSE ABBV) traded up 0.27% during trading on Friday, hitting $70.63. The stock had a trading volume of 3,248,300 shares. The stock has a market capitalization of $112.59 billion, a P/E ratio of 17.37 and a beta of 1.50. AbbVie has a 12-month low of $55.06 and a 12-month high of $75.04. The stock’s 50-day moving average is $72.05 and its 200-day moving average is $66.76.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $1.26 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts predict that AbbVie will post $5.52 EPS for the current fiscal year.
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In other AbbVie news, insider Laura J. Schumacher sold 79,800 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the completion of the transaction, the insider now owns 187,625 shares in the company, valued at $13,133,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William J. Chase sold 38,300 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the transaction, the chief financial officer now owns 209,043 shares of the company’s stock, valued at approximately $13,660,960.05. The disclosure for this sale can be found here. Insiders have sold 600,026 shares of company stock valued at $41,852,724 in the last quarter. 0.23% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Bienville Capital Management LLC increased its stake in shares of AbbVie by 8.4% in the fourth quarter. Bienville Capital Management LLC now owns 12,150 shares of the company’s stock valued at $761,000 after buying an additional 944 shares in the last quarter. Freestone Capital Holdings LLC increased its stake in shares of AbbVie by 30.9% in the fourth quarter. Freestone Capital Holdings LLC now owns 60,374 shares of the company’s stock valued at $3,781,000 after buying an additional 14,240 shares in the last quarter. Sarissa Capital Management LP purchased a new stake in shares of AbbVie during the fourth quarter valued at $626,000. Glenview Capital Management LLC purchased a new stake in shares of AbbVie during the fourth quarter valued at $570,905,000. Finally, Eventide Asset Management LLC increased its stake in shares of AbbVie by 0.6% in the fourth quarter. Eventide Asset Management LLC now owns 840,400 shares of the company’s stock valued at $52,626,000 after buying an additional 5,200 shares in the last quarter. 67.89% of the stock is currently 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.
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