Investors Sell AbbVie (ABBV) on Strength (ABBV)

Traders sold shares of AbbVie Inc. (NYSE:ABBV) on strength during trading hours on Monday. $108.24 million flowed into the stock on the tick-up and $244.72 million flowed out of the stock on the tick-down, for a money net flow of $136.48 million out of the stock. Of all equities tracked, AbbVie had the 0th highest net out-flow for the day. AbbVie traded up $0.70 for the day and closed at $90.48

ABBV has been the topic of several recent research reports. BMO Capital Markets reduced their price target on AbbVie from $95.00 to $80.00 and set an “underperform” rating on the stock in a research note on Friday, March 23rd. Jefferies Group set a $125.00 target price on AbbVie and gave the stock a “buy” rating in a research note on Friday, March 23rd. Credit Suisse Group cut their target price on AbbVie from $109.00 to $98.10 and set a “neutral” rating on the stock in a research note on Friday, March 23rd. Bank of America set a $120.00 target price on AbbVie and gave the stock a “hold” rating in a research note on Monday, March 26th. Finally, Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $117.38.

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The firm has a market cap of $142,568.22, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.85 and a beta of 1.61. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.04. The firm had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. equities analysts predict that AbbVie Inc. will post 7.51 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s dividend payout ratio is presently 50.71%.

AbbVie declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 15th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, CFO William J. Chase sold 70,928 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the transaction, the chief financial officer now directly owns 203,391 shares of the company’s stock, valued at $23,833,357.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,197 shares of company stock worth $24,585,575. Corporate insiders own 0.07% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Ffcm LLC lifted its holdings in AbbVie by 167.2% in the second 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 period. Bristlecone Advisors LLC bought a new position in AbbVie in the third quarter valued at about $113,000. Truewealth LLC bought a new position in AbbVie in the fourth quarter valued at about $126,000. Delpha Capital Management LLC bought a new position in AbbVie in the fourth quarter valued at about $131,000. Finally, Hershey Trust Co. bought a new position in AbbVie in the third quarter valued at about $139,000. 70.57% of the stock is currently owned by institutional investors.

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AbbVie Company Profile

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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