AbbVie Inc. (ABBV) Receives $93.21 Consensus Target Price from Brokerages

Henrietta Strickland
November 18, 2017

(NYSE:ABBV). In recent trading action, the stock had changed 0.03% settling in at $94.47.

According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 2.3 out of the scale from 1 to 5 where 1 stands for Buy and 5 means Sell.

In the past few sessions, investors have started paying a little bit more attention to shares of AbbVie Inc.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Savant Capital LLC grew its position in shares of AbbVie by 1.3% in the second quarter. The institutional investor held 99,399 shares of the public utilities company at the end of 2017Q2, valued at $6.91 million, up from 94,543 at the end of the previous reported quarter. Acropolis Investment Management LLC purchased a new stake in AbbVie during the second quarter valued at approximately $106,000. Bristlecone Advisors LLC acquired a new position in shares of AbbVie during the 3rd quarter valued at $113,000.

Mitsubishi Ufj Trust & Banking Corp says it lowered its ownership in Abbvie Inc. Investec Asset Management LTD boosted its holdings in shares of AbbVie by 3.6% in the 1st quarter. The Carnegie Capital Asset Management Llc holds 148,153 shares with $10.47 million value, up from 138,942 last quarter. Btr Cap Management holds 0.36% of its portfolio in AbbVie Inc (NYSE:ABBV) for 24,201 shares. Jupiter Asset Management Ltd now holds 576,834 shares with a value of $51,257,000.

A number of analysts recently weighed in on the stock. The stock of American Electric Power Company Inc (NYSE:AEP) has "Buy" rating given on Tuesday, August 18 by Mizuho.

The consensus recommendation, according to Zacks Investment research, is 1.86. The firm has "Outperform" rating given on Monday, October 2 by Leerink Swann. Finally, BMO Capital Markets set a $66.00 target price on AbbVie and gave the stock a "hold" rating in a research report on Friday, October 27th. SunTrust maintained it with "Buy" rating and $105.0 target in Sunday, October 29 report. Moors & Cabot Inc. boosted its holdings in shares of AbbVie by 63.7% in the 3rd quarter. Analysts have given a rating of 2.30 on company shares on a consensus basis. The Lower end of the earnings estimate is $1.37, while the higher end of the earnings estimate is $1.46. The company has market cap of $1.92 billion.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. After $1.41 actual earnings per share reported by AbbVie Inc for the previous quarter, Wall Street now forecasts 1.42% EPS growth. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business's revenue for the quarter was up 8.8% compared to the same quarter last year. analysts expect that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year. The company had revenue of $7 billion during the quarter, compared to analysts' expectations of $7 billion.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. It has a dividend yield of 3.03%. First Bank Of Hutchinson has invested 0.15% in AbbVie Inc (NYSE:ABBV). "(AEP) Ex-Dividend Date Scheduled for ..." on November 08, 2017. Buys DowDuPont Inc, Red Hat Inc, AbbVie ..." published on November 02, 2017, Seekingalpha.com published: "AbbVie: "Another Spectacular Quarter From This Dividend Aristocrat" on October 28, 2017. Abbvie Inc now has $150.59 billion valuation. (NYSE:ABBV) has performed -1.48%. If you are accessing this story on another domain, it was stolen and republished in violation of United States & worldwide copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.truebluetribune.com/2017/11/17/comerica-bank-acquires-831625-shares-of-abbvie-inc-abbv.html. Insiders have sold a total of 58,932 shares of company stock valued at $5,379,432 over the last 90 days. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares in the company, valued at $10,881,964.18. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Severino sold 25,633 shares of the business's stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $71.00, for a total transaction of $4,676,131.00. Following the transaction, the chairman now owns 469,623 shares in the company, valued at approximately $33,343,233.

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