A number of other research firms have also weighed in on ABBV. Bank of America raised their target price on AbbVie from $105.00 to $107.00 and gave the company a buy rating in a report on Wednesday, August 22nd. BMO Capital Markets reiterated a sell rating and set a $78.00 price target on shares of AbbVie in a report on Wednesday, August 22nd. Jefferies Financial Group set a $100.00 price target on AbbVie and gave the stock a buy rating in a report on Sunday, July 15th. Zacks Investment Research lowered AbbVie from a buy rating to a hold rating in a report on Saturday, July 14th. Finally, Berenberg Bank initiated coverage on AbbVie in a report on Thursday, July 12th. They set a hold rating and a $105.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $106.98.
ABBV stock opened at $90.57 on Friday. AbbVie has a twelve month low of $85.24 and a twelve month high of $125.86. The company has a debt-to-equity ratio of -9.06, a quick ratio of 0.71 and a current ratio of 0.80. The company has a market capitalization of $143.22 billion, a PE ratio of 16.17, a P/E/G ratio of 0.91 and a beta of 1.54.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be issued a dividend of $0.96 per share. The ex-dividend date is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.24%. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total value of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in ABBV. Fairfield Bush & CO. purchased a new position in shares of AbbVie in the first quarter valued at $146,000. Centaurus Financial Inc. purchased a new position in shares of AbbVie in the first quarter valued at $153,000. First Mercantile Trust Co. purchased a new position in shares of AbbVie in the second quarter valued at $150,000. MUFG Securities EMEA plc purchased a new position in shares of AbbVie in the second quarter valued at $157,000. Finally, Rainier Group Investment Advisory LLC purchased a new position in shares of AbbVie in the first quarter valued at $161,000. 69.35% of the stock is owned by institutional investors and hedge funds.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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