AbbVie (NYSE:ABBV) Hits New 52-Week Low at $65.04

AbbVie Inc (NYSE:ABBV)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $65.04 and last traded at $65.33, with a volume of 2376432 shares changing hands. The stock had previously closed at $65.80.

A number of research analysts recently issued reports on ABBV shares. Credit Suisse Group set a $78.00 target price on shares of AbbVie and gave the company a “sell” rating in a research note on Friday, April 26th. Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Piper Jaffray Companies set a $80.00 target price on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, July 26th. Leerink Swann upgraded shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Finally, BMO Capital Markets upgraded shares of AbbVie from an “underperform” rating to a “market perform” rating and raised their target price for the company from $71.00 to $79.00 in a research note on Sunday, April 28th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. AbbVie has an average rating of “Hold” and an average target price of $92.05.

The stock’s fifty day simple moving average is $71.96. The company has a market capitalization of $99.31 billion, a PE ratio of 8.24, a P/E/G ratio of 1.60 and a beta of 0.98.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 198.18%. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the firm earned $2.00 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, analysts expect that AbbVie Inc will post 8.88 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date is Friday, July 12th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

In other AbbVie news, EVP William J. Chase acquired 30,400 shares of AbbVie stock in a transaction dated Wednesday, June 26th. The stock was bought at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the acquisition, the executive vice president now owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Henry O. Gosebruch acquired 30,000 shares of AbbVie stock in a transaction dated Monday, July 29th. The shares were acquired at an average cost of $67.28 per share, with a total value of $2,018,400.00. Following the completion of the acquisition, the executive vice president now directly owns 75,763 shares in the company, valued at approximately $5,097,334.64. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 81,900 shares of company stock valued at $5,504,070. Insiders own 0.08% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Weaver Consulting Group bought a new position in AbbVie during the 1st quarter valued at about $25,000. Prime Capital Investment Advisors LLC bought a new position in AbbVie during the 4th quarter valued at about $27,000. Arbor Wealth Management LLC bought a new position in AbbVie during the 2nd quarter valued at about $28,000. Penserra Capital Management LLC bought a new position in AbbVie during the 4th quarter valued at about $32,000. Finally, Lowe Wealth Advisors LLC lifted its holdings in AbbVie by 206.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after purchasing an additional 310 shares during the last quarter. 68.52% of the stock is owned by institutional investors.

AbbVie Company Profile (NYSE:ABBV)

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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