Investors Buy AbbVie (ABBV) on Weakness
Traders purchased shares of AbbVie Inc. (NYSE:ABBV) on weakness during trading hours on Friday. $139.49 million flowed into the stock on the tick-up and $99.01 million flowed out of the stock on the tick-down, for a money net flow of $40.48 million into the stock. Of all stocks tracked, AbbVie had the 23rd highest net in-flow for the day. AbbVie traded down ($0.60) for the day and closed at $96.32
Several equities research analysts have issued reports on the company. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. ValuEngine downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Societe Generale lifted their price objective on AbbVie in a report on Tuesday, November 21st. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $84.00 price objective on shares of AbbVie in a report on Tuesday, November 21st. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $96.72.
The stock has a market capitalization of $153,540.00, a price-to-earnings ratio of 17.97, a PEG ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.
AbbVie (NYSE:ABBV) last announced 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. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the previous year, the business earned $1.21 EPS. AbbVie’s revenue was up 8.8% compared to the same quarter last year. research analysts expect that AbbVie Inc. will post 5.54 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.95%. 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 currently 62.14%.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the sale, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the sale, the senior vice president now directly owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 277,125 shares of company stock worth $25,891,756. 0.23% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Bristlecone Advisors LLC bought a new stake in AbbVie during the 3rd quarter valued at approximately $113,000. Acropolis Investment Management LLC bought a new stake in shares of AbbVie in the 2nd quarter worth approximately $106,000. Ffcm LLC boosted its position in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares in the last quarter. Hudock Capital Group LLC boosted its position 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 worth $111,000 after purchasing an additional 806 shares in the last quarter. Finally, Hershey Trust Co. bought a new stake in shares of AbbVie in the 3rd quarter worth approximately $139,000. 69.32% of the stock is currently owned by institutional investors and hedge funds.
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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