ValuEngine upgraded shares of AbbVie (NYSE:ABBV) from a hold rating to a buy rating in a research note issued to investors on Friday.
A number of other equities research analysts have also commented on the company. Jefferies Group upped their target price on AbbVie from $107.00 to $115.00 and gave the company a buy rating in a research report on Monday, October 16th. BMO Capital Markets set a $66.00 price objective on AbbVie and gave the stock a hold rating in a research report on Friday, October 27th. BidaskClub upgraded AbbVie from a buy rating to a strong-buy rating in a research report on Saturday, November 11th. Piper Jaffray Companies upped their price objective on AbbVie to $115.00 and gave the stock an overweight rating in a research report on Friday, October 27th. Finally, SunTrust Banks restated a buy rating on shares of AbbVie in a research report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. AbbVie presently has an average rating of Buy and an average target price of $117.26.
Shares of AbbVie (NYSE:ABBV) opened at $109.51 on Friday. The company has a market capitalization of $174,570.00, a P/E ratio of 26.58, a P/E/G ratio of 1.09 and a beta of 1.61. AbbVie has a 52-week low of $60.05 and a 52-week 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 issued its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. AbbVie’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. equities analysts expect that AbbVie will post 7.46 EPS for the current year.
In other news, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $94.69, for a total transaction 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 filing with the SEC, which is available at this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following 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. In the last 90 days, insiders sold 476,376 shares of company stock worth $45,580,873. Insiders own 0.23% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Capital Research Global Investors raised its stake in AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after purchasing an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. raised its stake in AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after purchasing an additional 3,706,941 shares during the last quarter. BlackRock Inc. raised its stake in AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after purchasing an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd raised its stake in AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after purchasing an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd raised its stake in AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after purchasing an additional 937,500 shares during the last quarter. 69.54% of the stock is owned by institutional investors and hedge funds.
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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.
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