UBS Group Trims AbbVie (NYSE:ABBV) Target Price to $146.00

AbbVie (NYSE:ABBVGet Rating) had its target price decreased by UBS Group from $154.00 to $146.00 in a research note issued to investors on Monday, Stock Target Advisor reports. UBS Group currently has a neutral rating on the stock.

ABBV has been the topic of several other research reports. Barclays lowered their target price on shares of AbbVie from $174.00 to $160.00 and set an equal weight rating on the stock in a research note on Monday. StockNews.com raised shares of AbbVie from a buy rating to a strong-buy rating in a research note on Friday, April 8th. Atlantic Securities lowered their price objective on shares of AbbVie from $178.00 to $162.00 and set a neutral rating on the stock in a research note on Monday. BMO Capital Markets lifted their price objective on shares of AbbVie from $161.00 to $174.00 and gave the stock an outperform rating in a research note on Monday, April 25th. Finally, Wells Fargo & Company lifted their price objective on shares of AbbVie from $165.00 to $200.00 in a research note on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $158.47.

AbbVie Stock Down 2.3 %

AbbVie stock opened at $140.22 on Monday. The stock has a market cap of $247.78 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 4.08 and a beta of 0.70. The company has a current ratio of 0.82, a quick ratio of 0.71 and a debt-to-equity ratio of 3.89. The company’s 50-day moving average price is $148.38 and its two-hundred day moving average price is $150.16. AbbVie has a 52 week low of $105.56 and a 52 week high of $175.91.

AbbVie (NYSE:ABBVGet Rating) last released its earnings results on Friday, July 29th. The company reported $3.37 EPS for the quarter, beating the consensus estimate of $3.31 by $0.06. The firm had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $14.64 billion. AbbVie had a net margin of 22.03% and a return on equity of 157.31%. AbbVie’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $3.11 EPS. On average, analysts expect that AbbVie will post 13.88 EPS for the current fiscal year.

AbbVie Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be issued a dividend of $1.41 per share. This represents a $5.64 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, July 14th. AbbVie’s dividend payout ratio is currently 79.89%.

Insider Buying and Selling

In related news, Vice Chairman Michael Severino sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $150.81, for a total transaction of $15,081,000.00. Following the completion of the sale, the insider now directly owns 152,103 shares in the company, valued at $22,938,653.43. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $150.81, for a total value of $15,081,000.00. Following the completion of the sale, the insider now directly owns 152,103 shares in the company, valued at $22,938,653.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $155.00, for a total transaction of $13,013,800.00. Following the completion of the sale, the executive vice president now owns 16,623 shares of the company’s stock, valued at $2,576,565. The disclosure for this sale can be found here. Over the last three months, insiders sold 463,761 shares of company stock worth $70,609,771. 0.08% of the stock is owned by company insiders.

Institutional Trading of AbbVie

Institutional investors have recently added to or reduced their stakes in the business. Sanders Morris Harris LLC raised its position in shares of AbbVie by 0.3% in the first quarter. Sanders Morris Harris LLC now owns 23,158 shares of the company’s stock valued at $3,755,000 after purchasing an additional 62 shares during the period. ICW Investment Advisors LLC raised its position in shares of AbbVie by 0.3% in the first quarter. ICW Investment Advisors LLC now owns 23,418 shares of the company’s stock valued at $3,796,000 after purchasing an additional 65 shares during the period. Sax Wealth Advisors LLC raised its position in shares of AbbVie by 0.9% in the first quarter. Sax Wealth Advisors LLC now owns 7,618 shares of the company’s stock valued at $1,235,000 after purchasing an additional 66 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. raised its position in shares of AbbVie by 0.4% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 17,615 shares of the company’s stock valued at $2,856,000 after purchasing an additional 67 shares during the period. Finally, Wealth Architects LLC raised its position in shares of AbbVie by 1.5% in the first quarter. Wealth Architects LLC now owns 4,511 shares of the company’s stock valued at $731,000 after purchasing an additional 67 shares during the period. 67.03% of the stock is currently owned by institutional investors and hedge funds.

About AbbVie

(Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Analyst Recommendations for AbbVie (NYSE:ABBV)

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