AbbVie Inc (NYSE:ABBV) Given Consensus Rating of “Hold” by Analysts

Shares of AbbVie Inc (NYSE:ABBV) have been assigned an average rating of “Hold” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $93.90.

A number of brokerages have weighed in on ABBV. Zacks Investment Research cut shares of Ionis Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, April 5th. Leerink Swann raised shares of AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Argus lowered shares of Versum Materials from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. Credit Suisse Group set a $123.00 price target on shares of Hershey and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, Citigroup restated a “hold” rating on shares of AbbVie in a research report on Wednesday, June 26th.

In related news, Director Roxanne S. Austin bought 11,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average price of $67.50 per share, for a total transaction of $776,250.00. Following the transaction, the director now directly owns 52,114 shares of the company’s stock, valued at approximately $3,517,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP William J. Chase bought 30,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average price of $67.30 per share, with a total value of $2,045,920.00. Following the transaction, the executive vice president now directly owns 169,552 shares in the company, valued at $11,410,849.60. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Prime Capital Investment Advisors LLC bought a new position in shares of AbbVie during the 4th quarter valued at about $27,000. Weaver Consulting Group purchased a new stake in AbbVie during the first quarter valued at about $25,000. Penserra Capital Management LLC purchased a new stake in AbbVie during the fourth quarter valued at about $32,000. Arbor Wealth Management LLC purchased a new stake in AbbVie during the second quarter valued at about $28,000. Finally, Larson Financial Group LLC purchased a new stake in AbbVie during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Shares of NYSE:ABBV traded up $0.29 on Tuesday, reaching $68.54. 9,806,403 shares of the company’s stock were exchanged, compared to its average volume of 17,113,156. The company has a market cap of $101.32 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 1.40 and a beta of 0.98. AbbVie has a fifty-two week low of $65.06 and a fifty-two week high of $100.23. The business has a 50-day simple moving average of $74.49.

AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.08. The company had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.81 billion. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The firm’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.87 earnings per share. Sell-side analysts forecast that AbbVie will post 8.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, July 12th. This represents a $4.28 annualized dividend and a dividend yield of 6.24%. AbbVie’s dividend payout ratio is currently 54.11%.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

See Also: Beta

Analyst Recommendations for AbbVie (NYSE:ABBV)

Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.