Analysts’ Recent Ratings Changes for AbbVie (ABBV)

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AbbVie (NYSE: ABBV) has recently received a number of price target changes and ratings updates:

  • 11/6/2018 – AbbVie had its price target lowered by analysts at Argus from $130.00 to $115.00. They now have a “buy” rating on the stock.
  • 11/5/2018 – AbbVie had its price target lowered by analysts at BMO Capital Markets from $78.00 to $71.00. They now have an “underperform” rating on the stock.
  • 11/4/2018 – AbbVie had its “hold” rating reaffirmed by analysts at Barclays PLC. They now have a $90.00 price target on the stock.
  • 11/2/2018 – AbbVie was given a new $85.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 10/23/2018 – AbbVie is now covered by analysts at Wolfe Research. They set an “underperform” rating on the stock.
  • 10/22/2018 – AbbVie had its price target lowered by analysts at SunTrust Banks, Inc. from $157.00 to $135.00. They now have a “buy” rating on the stock.
  • 10/20/2018 – AbbVie was given a new $85.00 price target on by analysts at Credit Suisse Group AG. They now have a “sell” rating on the stock.
  • 10/19/2018 – AbbVie was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/14/2018 – AbbVie was given a new $85.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 10/4/2018 – AbbVie had its price target lowered by analysts at Bank of America Corp from $107.00 to $106.00. They now have a “buy” rating on the stock.
  • 10/1/2018 – AbbVie was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $105.00 price target on the stock. According to Zacks, “AbbVie’s key drug, Humira has been performing well based on strong demand trends, despite new competition. Moreover, Imbruvica has multibillion dollar potential and AbbVie is exploring the possibility of label expansion into solid tumors and autoimmune diseases. Mavyret’s launch has also been stronger than expected. Mavyret has become a major growth driver for AbbVie in a short time on the market. Moreover, AbbVie has an impressive late-stage pipeline with launch of several products with multibillion-dollar potential expected in the near term. AbbVie expects to launch more than 20 new products or line extensions of marketed drugs before Humira biosimilar competition begins in the United States in 2023. However, potential biosimilar competition to Humira in Europe this year is an overhang.”

Shares of ABBV stock opened at $83.66 on Wednesday. AbbVie Inc has a 1 year low of $77.50 and a 1 year high of $125.86. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 8.70. The firm has a market cap of $120.48 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.72 and a beta of 1.62.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 671.60%. The firm had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.23 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc will post 7.94 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.12%. AbbVie’s payout ratio is presently 68.57%.

In other news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the sale, the executive vice president now owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.07% of the company’s stock.

A number of institutional investors have recently modified their holdings of ABBV. Signature Estate & Investment Advisors LLC bought a new position in AbbVie in the 3rd quarter worth $112,000. Mainstay Capital Management LLC ADV boosted its holdings in AbbVie by 6,123.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock worth $143,000 after buying an additional 12,247 shares during the period. First Mercantile Trust Co. bought a new position in AbbVie in the 2nd quarter worth $150,000. MUFG Securities EMEA plc bought a new position in AbbVie in the 2nd quarter worth $157,000. Finally, Rainier Group Investment Advisory LLC bought a new position in AbbVie in the 1st quarter worth $161,000. 69.43% of the stock is owned by institutional investors.

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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