Traders Sell AbbVie (ABBV) on Strength (ABBV)
Investors sold shares of AbbVie Inc (NYSE:ABBV) on strength during trading hours on Wednesday. $223.62 million flowed into the stock on the tick-up and $362.14 million flowed out of the stock on the tick-down, for a money net flow of $138.52 million out of the stock. Of all stocks tracked, AbbVie had the 0th highest net out-flow for the day. AbbVie traded up $2.42 for the day and closed at $113.62
ABBV has been the subject of a number of recent research reports. Cowen raised shares of AbbVie from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $91.17 to $105.00 in a research note on Wednesday, October 11th. UBS Group restated a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Barclays raised their target price on shares of AbbVie to $90.00 and gave the stock an “equal weight” rating in a research report on Friday, October 13th. Jefferies Group raised their target price on shares of AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $117.26.
The stock has a market capitalization of $177,523.00, a price-to-earnings ratio of 34.54, a price-to-earnings-growth ratio of 1.06 and a beta of 1.60. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction on Tuesday, November 21st. The shares were 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 SEC, which can be accessed through the SEC website. Also, EVP Michael Severino sold 25,633 shares of AbbVie stock in a transaction on Friday, November 10th. The shares were sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the completion of the transaction, the executive vice president now owns 114,922 shares in the company, valued at approximately $10,881,964.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 476,376 shares of company stock worth $45,580,873. 0.23% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the stock. New Mexico Educational Retirement Board lifted its holdings in shares of AbbVie by 4.4% during the 4th quarter. New Mexico Educational Retirement Board now owns 153,242 shares of the company’s stock valued at $14,820,000 after acquiring an additional 6,400 shares in the last quarter. Carnick & Kubik Group LLC increased its stake in AbbVie by 90.0% during the 4th quarter. Carnick & Kubik Group LLC now owns 68,230 shares of the company’s stock worth $6,599,000 after buying an additional 32,312 shares during the period. Keeler Thomas Management LLC purchased a new stake in AbbVie during the 4th quarter worth $627,000. Capital One National Association increased its stake in AbbVie by 3.1% during the 4th quarter. Capital One National Association now owns 153,010 shares of the company’s stock worth $14,798,000 after buying an additional 4,671 shares during the period. Finally, Krueger & Catalano Capital Partners LLC purchased a new stake in AbbVie during the 4th quarter worth $1,045,000. Institutional investors and hedge funds own 69.54% of the company’s stock.
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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.
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