Jefferies Group LLC reissued their buy rating on shares of AbbVie Inc. (NYSE:ABBV) in a research note published on Friday morning. They currently have a $107.00 price objective on the stock, up from their previous price objective of $94.00.
Several other equities research analysts have also weighed in on the company. Piper Jaffray Companies reiterated a buy rating and issued a $100.00 price objective on shares of AbbVie in a research note on Friday. SunTrust Banks, Inc. reiterated a buy rating and issued a $95.00 price objective on shares of AbbVie in a research note on Wednesday. Leerink Swann reiterated a market perform rating on shares of AbbVie in a research note on Tuesday. Cowen and Company reiterated a hold rating and issued a $95.00 price objective (up from $70.00) on shares of AbbVie in a research note on Monday, September 11th. Finally, Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $100.00 price objective (up from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. AbbVie presently has a consensus rating of Buy and a consensus target price of $82.38.
AbbVie (NYSE ABBV) traded down 2.07% on Friday, reaching $87.37. The company had a trading volume of 20,441,496 shares. The company has a 50-day moving average of $74.86 and a 200 day moving average of $69.44. The stock has a market cap of $139.28 billion, a price-to-earnings ratio of 21.49 and a beta of 1.48. AbbVie has a one year low of $55.06 and a one year high of $89.69.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the company posted $1.26 EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that AbbVie will post $5.52 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio is 62.90%.
In other AbbVie news, insider Henry O. Gosebruch sold 18,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the transaction, the insider now owns 96,074 shares of the company’s stock, valued at approximately $6,733,826.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the transaction, the senior vice president now directly owns 93,099 shares in the company, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 373,191 shares of company stock worth $26,598,305. Company insiders own 0.23% of the company’s stock.
A number of large investors have recently bought and sold shares of ABBV. Vanguard Group Inc. lifted its holdings in AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after buying an additional 3,706,941 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of AbbVie by 1,949.7% in the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after purchasing an additional 3,646,510 shares during the period. Orbis Allan Gray Ltd lifted its stake in shares of 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 period. Capital Research Global Investors lifted its stake in shares of 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 period. Finally, BlackRock Inc. lifted its stake in shares of 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 period. 68.29% of the stock is currently owned by hedge funds and other institutional investors.
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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