Investment Analysts’ Recent Ratings Changes for AbbVie (ABBV)

Several brokerages have updated their recommendations and price targets on shares of AbbVie (NYSE: ABBV) in the last few weeks:

5/30/2018 – AbbVie was downgraded by analysts at Deutsche Bank from a “neutral” rating to an “underperform” rating. They now have a $65.61 price target on the stock, down previously from $125.86. 5/30/2018 – AbbVie was downgraded by analysts at Deutsche Bank AG from a “neutral” rating to an “underperform” rating. They now have a $65.61 price target on the stock, down previously from $125.86. 5/29/2018 – AbbVie was downgraded by analysts at Credit Suisse Group from a “neutral” rating to a “sell” rating. They now have a $89.00 price target on the stock, down previously from $104.00. 5/24/2018 – AbbVie was downgraded by analysts at Goldman Sachs Group Inc from a “conviction-buy” rating to a “buy” rating. 5/23/2018 – AbbVie had its price target lowered by analysts at BMO Capital Markets from $81.00 to $78.00. They now have an “underperform” rating on the stock. 5/1/2018 – AbbVie had its “sell” rating reaffirmed by analysts at BMO Capital Markets. They now have a $81.00 price target on the stock. 4/30/2018 – AbbVie had its price target lowered by analysts at Morgan Stanley from $131.00 to $110.00. They now have an “equal weight” rating on the stock. 4/27/2018 – AbbVie had its price target lowered by analysts at Credit Suisse Group from $109.00 to $104.00. They now have a “neutral” rating on the stock. 4/22/2018 – AbbVie was given a new $109.00 price target on by analysts at Credit Suisse Group. They now have a “hold” rating on the stock. 4/13/2018 – AbbVie was given a new $122.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock. 4/10/2018 – AbbVie was given a new $109.00 price target on by analysts at Credit Suisse Group. They now have a “hold” rating on the stock. 4/5/2018 – AbbVie had its “sell” rating reaffirmed by analysts at BMO Capital Markets. They now have a $80.00 price target on the stock. 4/5/2018 – AbbVie had its price target lowered by analysts at Barclays PLC from $120.00 to $102.00. They now have an “equal weight” rating on the stock.

Shares of AbbVie traded down $4.07, hitting $98.94, on Thursday, Marketbeat.com reports. The stock had a trading volume of 18,900,959 shares, compared to its average volume of 9,046,738. AbbVie Inc. has a twelve month low of $65.61 and a twelve month high of $125.86. The firm has a market capitalization of $157.85 billion, a price-to-earnings ratio of 17.67, a price-to-earnings-growth ratio of 0.94 and a beta of 1.59. The company has a quick ratio of 1.10, a current ratio of 1.20 and a debt-to-equity ratio of 8.70.

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AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, April 26th. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.08. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The company had revenue of $7.93 billion during the quarter, compared to analyst estimates of $7.60 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The firm’s revenue was up 21.4% on a year-over-year basis. research analysts expect that AbbVie Inc. will post 7.8 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Covington Capital Management lifted its position in AbbVie by 0.8% during the 4th quarter. Covington Capital Management now owns 55,518 shares of the company’s stock worth $5,369,000 after buying an additional 449 shares in the last quarter. San Francisco Sentry Investment Group CA lifted its position in AbbVie by 15.3% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 3,386 shares of the company’s stock worth $327,000 after buying an additional 450 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in AbbVie by 8.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 5,970 shares of the company’s stock worth $577,000 after buying an additional 455 shares in the last quarter. Annex Advisory Services LLC lifted its position in AbbVie by 1.1% during the 4th quarter. Annex Advisory Services LLC now owns 43,287 shares of the company’s stock worth $4,186,000 after buying an additional 478 shares in the last quarter. Finally, First Personal Financial Services lifted its position in AbbVie by 2.7% during the 4th quarter. First Personal Financial Services now owns 18,248 shares of the company’s stock worth $1,765,000 after buying an additional 488 shares in the last quarter. 69.48% of the stock is currently owned by institutional investors and hedge funds.

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

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