Analysts’ Recent Ratings Changes for AbbVie (ABBV)

A number of firms have modified their ratings and price targets on shares of AbbVie (NYSE: ABBV) recently:

  • 1/11/2018 – AbbVie was given a new $84.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
  • 1/8/2018 – AbbVie was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $113.08 price target on the stock.
  • 1/5/2018 – AbbVie was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “AbbVie’s key drug Humira has been performing well based on strong demand trends for the drug, despite new competition. Moreover, Imbruvica has multibillion dollar potential and AbbVie is exploring the possibility of label expansion into solid tumors and autoimmune diseases. AbbVie’s shares outperformed the industry in 2017 supported by a series of positive news including promising data from several pivotal studies, regulatory approvals in the U.S., Europe, and Japan for its competitive HCV medicine Mavyret and FDA approval for the sixth indication for Imbrivica and settlement of its Humira patent disputes with Amgen. Also, several pivotal data readouts and regulatory milestones are expected in 2018. However, HCV sales continue to be hurt by intensifying competition. Estimates have remained stable ahead of the Q4 earnings release. AbbVie has a positive record of earnings surprises in the recent quarters.”
  • 1/4/2018 – AbbVie had its price target raised by analysts at Jefferies Group LLC from $115.00 to $120.00. They now have a “buy” rating on the stock.
  • 1/2/2018 – AbbVie had its “buy” rating reaffirmed by analysts at Piper Jaffray Companies.
  • 1/2/2018 – AbbVie was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $108.00 price target on the stock. According to Zacks, “AbbVie’s key drug Humira has been performing well. At the Q3 earnings call, AbbVie raised its long-term target for Humira sales based on strong demand trends for the drug, despite new competition. Moreover, Imbruvica has multibillion dollar potential and AbbVie is exploring the possibility of label expansion into solid tumors and autoimmune diseases. Meanwhile, the past 2-3 months have been strong for the company as it presented promising data from several pivotal studies, gained regulatory approvals in the U.S., Europe, and Japan for its competitive HCV medicine Mavyret and FDA approval for the sixth indication for Imbrivica and settled its Humira patent disputes with Amgen. Also, several pivotal data readouts and regulatory milestones are expected in 2018. AbbVie’s shares outperformed the industry in 2017. However, HCV sales continue to be hurt by intensifying competition.”
  • 12/20/2017 – AbbVie was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $113.08 price target on the stock.
  • 12/20/2017 – AbbVie was given a new $84.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
  • 12/5/2017 – AbbVie was given a new $106.00 price target on by analysts at Leerink Swann. They now have a “buy” rating on the stock.
  • 12/4/2017 – AbbVie was given a new $84.00 price target on by analysts at BMO Capital Markets. They now have a “hold” rating on the stock.
  • 12/1/2017 – AbbVie was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 11/21/2017 – AbbVie had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $84.00 price target on the stock.
  • 11/21/2017 – AbbVie had its price target raised by analysts at Societe Generale.

AbbVie Inc (ABBV) opened at $102.49 on Wednesday. AbbVie Inc has a 1 year low of $59.27 and a 1 year high of $103.00. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The firm has a market cap of $163,380.00, a price-to-earnings ratio of 24.88, a P/E/G ratio of 1.20 and a beta of 1.53.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the firm posted $1.21 EPS. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. equities analysts anticipate that AbbVie Inc will post 5.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.77%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is 68.93%.

In related news, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the transaction, the insider now owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Over the last quarter, insiders sold 494,676 shares of company stock worth $47,237,938. 0.23% of the stock is currently owned by insiders.

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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