Investors sold shares of AbbVie Inc (NYSE:ABBV) on strength during trading hours on Wednesday. $95.12 million flowed into the stock on the tick-up and $146.86 million flowed out of the stock on the tick-down, for a money net flow of $51.74 million out of the stock. Of all companies tracked, AbbVie had the 0th highest net out-flow for the day. AbbVie traded up $1.05 for the day and closed at $97.35
Several equities research analysts have recently commented on ABBV shares. Societe Generale boosted their price target on shares of AbbVie in a report on Tuesday, November 21st. Goldman Sachs Group restated a “buy” rating and issued a $100.00 price target (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Jefferies Group restated a “buy” rating and issued a $94.00 price target on shares of AbbVie in a report on Friday, September 8th. Piper Jaffray Companies restated a “buy” rating and issued a $100.00 price target on shares of AbbVie in a report on Friday, September 15th. Finally, SunTrust Banks restated a “buy” rating and issued a $95.00 price target on shares of AbbVie in a report on Wednesday, September 13th. Seven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $97.96.
The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The firm has a market cap of $155,412.45, a P/E ratio of 18.33, a P/E/G ratio of 1.35 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. AbbVie’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS. sell-side analysts anticipate that AbbVie Inc will post 5.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is 62.29%.
In related news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the transaction, the insider now owns 81,287 shares in the company, valued at approximately $7,360,537.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. In the last quarter, insiders have sold 268,825 shares of company stock valued at $25,186,090. 0.23% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Acropolis Investment Management LLC purchased a new stake in shares of AbbVie in the 2nd quarter valued at $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at $108,000. Hudock Capital Group LLC boosted its holdings in shares of AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares during the last quarter. Ffcm LLC boosted its holdings in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares during the last quarter. Finally, Bristlecone Advisors LLC purchased a new stake in shares of AbbVie in the 3rd quarter valued at $113,000. 69.32% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION WARNING: This story was originally reported by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this story on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark legislation. The correct version of this story can be viewed at https://www.thelincolnianonline.com/2017/12/15/investors-sell-abbvie-abbv-on-strength-abbv.html.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.