AbbVie Inc. (NYSE:ABBV) has received an average recommendation of “Buy” from the twenty ratings firms that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $93.15.
A number of research analysts have recently weighed in on ABBV shares. Jefferies Group LLC raised their price objective on shares of AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Cowen and Company raised shares of AbbVie from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $91.17 to $105.00 in a research note on Wednesday, October 11th. BMO Capital Markets set a $66.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research note on Friday, October 27th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $100.00 price objective (up from $85.00) on shares of AbbVie in a research note on Friday, September 8th.
In related news, Chairman Richard A. Gonzalez sold 193,131 shares of AbbVie stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the transaction, the chairman now owns 469,623 shares in the company, valued at approximately $33,343,233. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard A. Gonzalez sold 65,861 shares of AbbVie stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $71.00, for a total transaction of $4,676,131.00. Following the transaction, the chief executive officer now owns 342,353 shares in the company, valued at approximately $24,307,063. The disclosure for this sale can be found here. In the last quarter, insiders sold 380,190 shares of company stock worth $27,583,262. 0.23% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the stock. Bristlecone Advisors LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at $113,000. Acropolis Investment Management LLC acquired a new position in shares of AbbVie during the 2nd quarter valued at $106,000. Ffcm LLC lifted its holdings in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares in the last quarter. Hudock Capital Group LLC lifted its holdings in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares in the last quarter. Finally, Hershey Trust Co. acquired a new position in shares of AbbVie during the 3rd quarter valued at $139,000. Institutional investors and hedge funds own 68.49% of the company’s stock.
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AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 164.66%. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period last year, the company posted $1.21 EPS. The company’s revenue was up 8.8% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is 62.29%.
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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