AbbVie Inc. (ABBV) Director Buys $281,800.00 in Stock
AbbVie Inc. (NYSE:ABBV) Director Edward J. Rapp bought 4,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were bought at an average cost of $70.45 per share, with a total value of $281,800.00. Following the transaction, the director now directly owns 15,498 shares of the company’s stock, valued at $1,091,834.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
AbbVie Inc. (ABBV) opened at 70.99 on Friday. The company has a 50-day moving average price of $72.07 and a 200 day moving average price of $66.31. The company has a market capitalization of $112.98 billion, a PE ratio of 17.46 and a beta of 1.50. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 154.76% and a net margin of 24.77%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. On average, equities research analysts forecast that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $2.56 annualized dividend and a yield of 3.61%. AbbVie’s dividend payout ratio (DPR) is presently 62.90%.
COPYRIGHT VIOLATION NOTICE: “AbbVie Inc. (ABBV) Director Buys $281,800.00 in Stock” was first posted by Daily Political and is owned by of Daily Political. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://www.dailypolitical.com/2017/08/05/abbvie-inc-abbv-director-buys-281800-00-in-stock.html.
A number of brokerages have issued reports on ABBV. Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 target price (up previously from $65.00) on shares of AbbVie in a research report on Monday, July 17th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price for the company in a research report on Wednesday, July 26th. BidaskClub cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 target price (up previously from $92.00) on shares of AbbVie in a research report on Monday, July 17th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $75.35.
Hedge funds have recently added to or reduced their stakes in the stock. First Command Financial Services Inc. increased its stake in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares during the period. Acropolis Investment Management LLC purchased a new stake in AbbVie during the second quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in AbbVie during the first quarter valued at about $108,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in AbbVie during the fourth quarter valued at about $137,000. Finally, Atwood & Palmer Inc. increased its stake in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 68.00% of the company’s stock.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with MarketBeat.com's FREE daily email newsletter.