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

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

Several other analysts also recently issued reports on ABBV. Daiwa Capital Markets downgraded shares of AbbVie from an outperform rating to a neutral rating and set a $150.00 price target on the stock. in a report on Friday, May 6th. Barclays reduced their price objective 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. BMO Capital Markets upped their price objective on shares of AbbVie from $161.00 to $174.00 and gave the company an outperform rating in a research note on Monday, April 25th. StockNews.com raised shares of AbbVie from a buy rating to a strong-buy rating in a research note on Friday, April 8th. Finally, The Goldman Sachs Group upped their price objective on shares of AbbVie from $122.00 to $140.00 and gave the company a neutral rating in a research note on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, AbbVie presently has a consensus rating of Moderate Buy and an average target price of $158.47.

AbbVie Trading Down 2.3 %

Shares of ABBV opened at $140.22 on Monday. 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 firm’s 50-day moving average is $148.38 and its two-hundred day moving average is $150.16. AbbVie has a twelve month low of $105.56 and a twelve month high of $175.91. The firm has a market capitalization of $247.78 billion, a P/E ratio of 19.86, a PEG ratio of 4.08 and a beta of 0.70.

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

AbbVie Dividend Announcement

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

Insider Transactions at AbbVie

In other news, Vice Chairman Michael Severino sold 100,000 shares of the stock in a transaction 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 owns 152,103 shares of the company’s stock, valued at $22,938,653.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Vice Chairman Michael Severino sold 100,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $22,938,653.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Henry O. Gosebruch sold 83,960 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 16,623 shares of the company’s stock, valued at $2,576,565. The disclosure for this sale can be found here. Insiders sold 463,761 shares of company stock valued at $70,609,771 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On AbbVie

A number of large investors have recently added to or reduced their stakes in the company. NewEdge Wealth LLC boosted its stake in AbbVie by 25.0% during the 4th quarter. NewEdge Wealth LLC now owns 2,998 shares of the company’s stock valued at $406,000 after acquiring an additional 599 shares during the last quarter. Riverwater Partners LLC bought a new position in AbbVie during the 4th quarter valued at $363,000. CWM LLC bought a new position in AbbVie during the 4th quarter valued at $10,144,000. Robeco Institutional Asset Management B.V. boosted its stake in AbbVie by 41.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,049,761 shares of the company’s stock valued at $142,138,000 after acquiring an additional 307,472 shares during the last quarter. Finally, Cahaba Wealth Management Inc. bought a new position in AbbVie during the 4th quarter valued at $240,000. 67.03% of the stock is owned by institutional investors and hedge funds.

AbbVie Company Profile

(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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