Traders Buy Shares of AbbVie (ABBV) on Weakness
Traders bought shares of AbbVie Inc (NYSE:ABBV) on weakness during trading on Tuesday. $118.42 million flowed into the stock on the tick-up and $31.56 million flowed out of the stock on the tick-down, for a money net flow of $86.86 million into the stock. Of all equities tracked, AbbVie had the 6th highest net in-flow for the day. AbbVie traded down ($0.46) for the day and closed at $97.75
ABBV has been the subject of a number of research analyst reports. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Jefferies Group reaffirmed a “buy” rating and issued a $94.00 target price on shares of AbbVie in a research report on Friday, September 8th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $100.00 target price (up from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Cowen reaffirmed a “hold” rating and issued a $95.00 target price (up from $70.00) on shares of AbbVie in a research report on Monday, September 11th. Finally, Leerink Swann reaffirmed a “market perform” rating on shares of AbbVie in a research report on Tuesday, September 12th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $100.26.
The stock has a market capitalization of $156,360.00, a P/E ratio of 23.81, a PEG ratio of 1.37 and a beta of 1.53. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. equities research analysts anticipate that AbbVie Inc will post 5.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is presently 62.14%.
In other news, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now owns 492,030 shares in the company, valued at approximately $46,255,740.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 494,676 shares of company stock worth $47,237,938 in the last 90 days. Company insiders own 0.23% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Acropolis Investment Management LLC purchased a new position in AbbVie in the second quarter worth $106,000. Hudock Capital Group LLC grew its position in AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares in the last quarter. Ffcm LLC grew its position in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares in the last quarter. Bristlecone Advisors LLC purchased a new position in AbbVie in the third quarter worth $113,000. Finally, BDO Wealth Advisors LLC purchased a new position in AbbVie in the second quarter worth $115,000. 69.18% of the stock is currently owned by institutional investors.
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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