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.

WARNING: This piece of content was originally published by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of US and international copyright law. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/12/01/investors-buy-abbvie-abbv-on-weakness.html.

About AbbVie

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.