Investors Sell AbbVie (ABBV) on Strength (ABBV)

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.

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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.

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