Media headlines about AbbVie (NYSE:ABBV) have been trending neutral this week, according to InfoTrie. InfoTrie rates the sentiment of media coverage by monitoring more than 6,000 news and blog sources. The firm ranks coverage of public companies on a scale of -5 to 5, with scores nearest to five being the most favorable. AbbVie earned a news impact score of 0.33 on their scale. InfoTrie also gave press coverage about the company an news buzz score of 10 out of 10, indicating that recent media coverage is extremely likely to have an impact on the company’s share price in the next several days.
Here are some of the news headlines that may have impacted AbbVie’s analysis:
- AbbVie: Balancing blockbusters with CMO business – Bioprocess Insider – BioProcess Insider (bioprocessintl.com)
- AC Immune Initiates Phase I Study for Alzheimer's Disease (finance.yahoo.com)
- Novartis's Pure Play in Pharma Works, for Now (finance.yahoo.com)
- Svb Leerink Comments on AbbVie Inc’s Q3 2019 Earnings (NYSE:ABBV) (americanbankingnews.com)
- Zacks: Brokerages Expect AbbVie Inc (NYSE:ABBV) Will Post Earnings of $2.21 Per Share (americanbankingnews.com)
Several research firms have recently weighed in on ABBV. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Leerink Swann upgraded AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. BMO Capital Markets upgraded AbbVie from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $71.00 to $79.00 in a research report on Sunday, April 28th. Credit Suisse Group set a $123.00 price objective on Hershey and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, ValuEngine downgraded Yirendai from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $94.76.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Thursday, April 25th. The company reported $2.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.06 by $0.08. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.81 billion. AbbVie had a negative return on equity of 221.09% and a net margin of 16.42%. AbbVie’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.87 EPS. As a group, equities analysts expect that AbbVie will post 8.82 earnings per share for the current year.
The firm 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 dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s dividend payout ratio (DPR) is 54.11%.
In related news, EVP William J. Chase acquired 30,400 shares of AbbVie stock in a transaction on Wednesday, June 26th. The stock was purchased at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the purchase, the executive vice president now directly owns 169,552 shares in the company, valued at $11,410,849.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roxanne S. Austin acquired 11,500 shares of AbbVie stock in a transaction on Wednesday, June 26th. The shares were bought at an average cost of $67.50 per share, with a total value of $776,250.00. Following the completion of the purchase, the director now owns 52,114 shares in the company, valued at $3,517,695. The disclosure for this purchase can be found here. 0.08% of the stock is owned by insiders.
AbbVie Company Profile
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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