Traders Buy AbbVie Inc. (ABBV) on Weakness

Traders purchased shares of AbbVie Inc. (NYSE:ABBV) on weakness during trading hours on Friday. $71.23 million flowed into the stock on the tick-up and $46.27 million flowed out of the stock on the tick-down, for a money net flow of $24.96 million into the stock. Of all stocks tracked, AbbVie had the 32nd highest net in-flow for the day. AbbVie traded down ($0.86) for the day and closed at $93.61

ABBV has been the topic of a number of recent analyst reports. Jefferies Group LLC raised their price objective on AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, October 16th. BMO Capital Markets set a $66.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Friday, October 27th. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Piper Jaffray Companies raised their price objective on AbbVie to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Finally, Cowen and Company raised AbbVie from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $91.17 to $105.00 in a research note on Wednesday, October 11th. Eight equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $93.68.

The firm has a market cap of $150,590.00, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.52. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.

AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $7 billion. During the same quarter last year, the firm earned $1.21 EPS. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities analysts expect that AbbVie Inc. will post 5.55 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is presently 61.84%.

In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the transaction, the senior vice president now owns 93,099 shares in the company, valued at approximately $7,915,276.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the transaction, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. Insiders have sold a total of 58,932 shares of company stock worth $5,379,432 in the last three months. 0.23% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Savant Capital LLC lifted its position in shares of AbbVie by 1.3% during the 2nd quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after buying an additional 793 shares during the period. Princeton Capital Management Inc. bought a new position in AbbVie in the 2nd quarter valued at $1,394,000. Accident Compensation Corp raised its position in AbbVie by 24.7% in the 1st quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after purchasing an additional 13,100 shares during the last quarter. Investec Asset Management LTD raised its position in AbbVie by 3.6% in the 1st quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock valued at $10,880,000 after purchasing an additional 5,801 shares during the last quarter. Finally, Palisade Asset Management LLC raised its position in AbbVie by 17.9% in the 2nd quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after purchasing an additional 10,381 shares during the last quarter. Institutional investors and hedge funds own 68.16% 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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