AbbVie Inc (NYSE:ABBV) has been given an average recommendation of “Hold” by the seventeen analysts that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $89.89.
ABBV has been the subject of several analyst reports. Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Goldman Sachs Group initiated coverage on shares of AbbVie in a research note on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 target price for the company. Credit Suisse Group set a $78.00 target price on shares of AbbVie and gave the company a “sell” rating in a research note on Friday, April 26th. Leerink Swann upgraded shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Svb Leerink upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research note on Wednesday, June 26th.
ABBV traded up $0.01 during trading on Friday, hitting $63.51. 3,242,928 shares of the company’s stock were exchanged, compared to its average volume of 10,238,484. AbbVie has a 1 year low of $63.31 and a 1 year high of $100.23. The stock’s 50 day moving average is $68.73. The stock has a market capitalization of $95.41 billion, a price-to-earnings ratio of 8.03, a P/E/G ratio of 1.54 and a beta of 0.96.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be issued a $1.07 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.74%. AbbVie’s dividend payout ratio is presently 54.11%.
In other AbbVie news, Director Roxanne S. Austin bought 11,500 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of $67.50 per share, with a total value of $776,250.00. Following the completion of the acquisition, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The acquisition 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 company’s stock in a transaction on Wednesday, June 26th. The shares were acquired at an average cost of $67.30 per share, for a total transaction of $2,045,920.00. Following the completion of the acquisition, the executive vice president now directly owns 169,552 shares of the company’s stock, valued at approximately $11,410,849.60. The disclosure for this purchase can be found here. Insiders purchased 136,900 shares of company stock worth $9,126,370 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. Weaver Consulting Group acquired a new stake in shares of AbbVie in the 1st quarter worth about $25,000. Prime Capital Investment Advisors LLC bought a new position in AbbVie in the 4th quarter valued at about $27,000. Arbor Wealth Management LLC bought a new position in AbbVie in the 2nd quarter valued at about $28,000. Lowe Wealth Advisors LLC grew its position in AbbVie by 206.7% in the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after buying an additional 310 shares in the last quarter. Finally, Horrell Capital Management Inc. bought a new position in AbbVie in the 2nd quarter valued at about $33,000. 68.15% of the stock is currently owned by institutional investors.
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.
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