AbbVie Inc. (ABBV) Price Target Raised to $115.00

AbbVie Inc. (NYSE:ABBV) had its target price upped by Jefferies Group LLC from $107.00 to $115.00 in a research report report published on Monday, The Fly reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on ABBV. Societe Generale upgraded AbbVie from a hold rating to a buy rating in a research note on Thursday, June 22nd. Leerink Swann restated a market perform rating on shares of AbbVie in a research note on Thursday, June 22nd. Zacks Investment Research lowered AbbVie from a hold rating to a sell rating in a research note on Tuesday, July 4th. Vetr upgraded AbbVie from a hold rating to a buy rating and set a $74.86 price objective for the company in a research note on Thursday, July 6th. Finally, Deutsche Bank AG restated a hold rating and set a $66.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $92.79.

Shares of AbbVie (NYSE:ABBV) opened at 96.04 on Monday. The stock has a market cap of $153.10 billion, a PE ratio of 23.62 and a beta of 1.51. The company’s 50-day moving average price is $86.82 and its 200 day moving average price is $73.51. AbbVie has a 1-year low of $55.06 and a 1-year high of $96.44.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm earned $1.26 EPS. AbbVie’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts forecast that AbbVie will post $5.53 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “AbbVie Inc. (ABBV) Price Target Raised to $115.00” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/19/abbvie-inc-abbv-price-target-raised-to-115-00.html.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is 62.90%.

In other AbbVie news, Director Edward J. Rapp bought 4,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $70.45 per share, with a total value of $281,800.00. Following the purchase, the director now directly owns 15,498 shares of the company’s stock, valued at $1,091,834.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction on Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the sale, 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 three months, insiders sold 379,890 shares of company stock worth $27,187,817. Company insiders own 0.23% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Capital Research Global Investors raised its stake in AbbVie by 1.2% during 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 acquiring an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. raised its stake in AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after acquiring an additional 3,706,941 shares in the last quarter. BlackRock Inc. raised its stake in AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after acquiring an additional 1,864,418 shares in the last quarter. State Street Corp raised its stake in AbbVie by 2.4% during the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after acquiring an additional 1,696,042 shares in the last quarter. Finally, Orbis Allan Gray Ltd raised its stake in AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after acquiring an additional 3,340,038 shares in the last quarter. 68.25% of the stock is currently owned by hedge funds and other institutional investors.

AbbVie Company Profile

AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, man

A number of other equities research analysts have also weighed in on ABBV. Societe Generale upgraded AbbVie from a hold rating to a buy rating in a research note on Thursday, June 22nd. Leerink Swann restated a market perform rating on shares of AbbVie in a research note on Thursday, June 22nd. Zacks Investment Research lowered AbbVie from a hold rating to a sell rating in a research note on Tuesday, July 4th. Vetr upgraded AbbVie from a hold rating to a buy rating and set a $74.86 price objective for the company in a research note on Thursday, July 6th. Finally, Deutsche Bank AG restated a hold rating and set a $66.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $92.79.

Shares of AbbVie (NYSE:ABBV) opened at 96.04 on Monday. The stock has a market cap of $153.10 billion, a PE ratio of 23.62 and a beta of 1.51. The company’s 50-day moving average price is $86.82 and its 200 day moving average price is $73.51. AbbVie has a 1-year low of $55.06 and a 1-year high of $96.44.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm earned $1.26 EPS. AbbVie’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts forecast that AbbVie will post $5.53 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “AbbVie Inc. (ABBV) Price Target Raised to $115.00” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another site, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The correct version of this story can be accessed at https://ledgergazette.com/2017/10/19/abbvie-inc-abbv-price-target-raised-to-115-00.html.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is 62.90%.

In other AbbVie news, Director Edward J. Rapp bought 4,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were purchased at an average price of $70.45 per share, with a total value of $281,800.00. Following the purchase, the director now directly owns 15,498 shares of the company’s stock, valued at $1,091,834.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction on Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the sale, 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 three months, insiders sold 379,890 shares of company stock worth $27,187,817. Company insiders own 0.23% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Capital Research Global Investors raised its stake in AbbVie by 1.2% during 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 acquiring an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. raised its stake in AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after acquiring an additional 3,706,941 shares in the last quarter. BlackRock Inc. raised its stake in AbbVie by 2.0% during the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after acquiring an additional 1,864,418 shares in the last quarter. State Street Corp raised its stake in AbbVie by 2.4% during the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after acquiring an additional 1,696,042 shares in the last quarter. Finally, Orbis Allan Gray Ltd raised its stake in AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after acquiring an additional 3,340,038 shares in the last quarter. 68.25% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for AbbVie (NYSE:ABBV)

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