AbbVie Inc (NYSE:ABBV) SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
AbbVie Inc (NYSE:ABBV) traded up $1.07 on Friday, reaching $100.34. 4,370,600 shares of the company’s stock were exchanged, compared to its average volume of 4,460,000. The stock has a market cap of $159,950.00, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc has a twelve month low of $59.27 and a twelve month high of $101.28.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 EPS. sell-side analysts forecast that AbbVie Inc will post 5.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is presently 62.14%.
Several equities research analysts have weighed in on the company. UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Jefferies Group increased their price target on AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets restated a “hold” rating and set a $84.00 target price on shares of AbbVie in a research report on Tuesday, November 21st. Piper Jaffray Companies raised their target price on AbbVie to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Finally, Leerink Swann dropped their target price on AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a research report on Monday, October 30th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and a consensus target price of $100.94.
Several hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in shares of AbbVie by 1.2% in the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after acquiring an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of AbbVie by 3.3% in the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after acquiring an additional 3,706,941 shares in the last quarter. BlackRock Inc. grew its stake in shares of AbbVie by 2.0% in the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after acquiring an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd grew its stake in shares of AbbVie by 35.7% in the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after acquiring an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd grew its stake in shares of AbbVie by 8.6% in the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after acquiring an additional 937,500 shares in the last quarter. 69.18% of the stock is currently owned by hedge funds and other institutional investors.
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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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