AbbVie (NYSE:ABBV) updated its FY20 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $10.35-10.45 for the period, compared to the Thomson Reuters consensus estimate of $10.51. AbbVie also updated its FY 2020
Pre-Market guidance to 10.35-10.45 EPS.
Several research analysts have commented on the company. Wolfe Research raised AbbVie from a peer perform rating to an outperform rating in a report on Tuesday, June 9th. Atlantic Securities raised AbbVie from a neutral rating to an overweight rating and set a $115.00 target price on the stock in a report on Tuesday, June 23rd. Bank of America assumed coverage on AbbVie in a report on Monday, May 18th. They set a neutral rating and a $95.00 target price on the stock. TheStreet raised AbbVie from a c+ rating to a b- rating in a report on Friday, June 12th. Finally, UBS Group lifted their target price on AbbVie from $96.00 to $109.00 in a report on Wednesday, June 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. AbbVie currently has a consensus rating of Buy and a consensus target price of $106.80.
AbbVie stock traded down $1.13 during midday trading on Friday, reaching $94.91. The stock had a trading volume of 14,614,332 shares, compared to its average volume of 5,717,843. AbbVie has a 12 month low of $62.55 and a 12 month high of $101.28. The company has a market capitalization of $141.83 billion, a P/E ratio of 16.80, a PEG ratio of 1.65 and a beta of 0.86. The company has a fifty day moving average price of $97.25 and a two-hundred day moving average price of $88.40.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Wednesday, July 15th will be given a $1.18 dividend. This represents a $4.72 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Tuesday, July 14th. AbbVie’s payout ratio is 52.80%.
In other AbbVie news, Vice Chairman Carlos Alban sold 53,325 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total transaction of $5,332,500.00. Following the completion of the sale, the insider now directly owns 137,899 shares of the company’s stock, valued at approximately $13,789,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy J. Richmond sold 19,445 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $85.00, for a total value of $1,652,825.00. The disclosure for this sale can be found here. Insiders sold a total of 95,794 shares of company stock valued at $9,057,485 over the last ninety days. 0.09% of the stock is currently owned by corporate insiders.
AbbVie Company Profile
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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