AbbVie Inc. (NYSE:ABBV)‘s stock had its “buy” rating reissued by stock analysts at Goldman Sachs Group, Inc. (The) in a report released on Friday, September 8th. They presently have a $100.00 target price on the stock, up from their prior target price of $85.00. Goldman Sachs Group, Inc. (The)’s price target indicates a potential upside of 14.46% from the stock’s previous close.
ABBV has been the topic of a number of other reports. Zacks Investment Research lowered AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a report on Wednesday, July 26th. Jefferies Group LLC reaffirmed a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 target price (up from $65.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $65.00 price target on shares of AbbVie in a research note on Wednesday, June 7th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. AbbVie currently has a consensus rating of “Buy” and an average target price of $82.38.
Shares of AbbVie (ABBV) traded down 2.07% during midday trading on Friday, reaching $87.37. 20,441,496 shares of the company were exchanged. AbbVie has a 52-week low of $55.06 and a 52-week high of $89.69. The firm’s 50 day moving average is $74.86 and its 200-day moving average is $69.44. The company has a market capitalization of $139.28 billion, a PE ratio of 21.49 and a beta of 1.48.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. AbbVie’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.26 earnings per share. On average, equities analysts forecast that AbbVie will post $5.52 earnings per share for the current fiscal year.
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In other news, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares in the company, valued at approximately $7,915,276.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Richard A. Gonzalez sold 65,861 shares of AbbVie stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $71.00, for a total value of $4,676,131.00. Following the sale, the chief executive officer now owns 342,353 shares of the company’s stock, valued at $24,307,063. 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.
Institutional investors have recently made changes to their positions in the company. First Command Financial Services Inc. lifted its holdings in shares of AbbVie by 6.8% during the 1st quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares during the last quarter. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the 2nd quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in AbbVie in the 1st quarter worth approximately $108,000. Hudock Capital Group LLC lifted its holdings in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares during the last quarter. Finally, Ffcm LLC lifted its holdings in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares during the last quarter. Institutional investors and hedge funds own 68.29% of the company’s stock.
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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