Traders Buy Shares of AbbVie (ABBV) on Weakness

Traders purchased shares of AbbVie Inc. (NYSE:ABBV) on weakness during trading on Monday. $126.22 million flowed into the stock on the tick-up and $81.85 million flowed out of the stock on the tick-down, for a money net flow of $44.37 million into the stock. Of all stocks tracked, AbbVie had the 27th highest net in-flow for the day. AbbVie traded down ($1.10) for the day and closed at $95.22

A number of equities analysts have issued reports on the company. BMO Capital Markets set a $84.00 target price on AbbVie and gave the company a “hold” rating in a research report on Monday. ValuEngine lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday. Societe Generale upped their target price on AbbVie in a research report on Tuesday, November 21st. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. Finally, Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. AbbVie currently has a consensus rating of “Buy” and an average price target of $96.72.

The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The stock has a market capitalization of $151,790.00, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.36 and a beta of 1.53.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $1.21 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. research analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current fiscal 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 issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s payout ratio is 62.14%.

In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction 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 directly owns 93,099 shares in the company, valued at approximately $7,915,276.98. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was 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 of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders sold a total of 277,125 shares of company stock valued at $25,891,756 over the last quarter. Company insiders own 0.23% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Acropolis Investment Management LLC acquired a new position in AbbVie during the 2nd quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in AbbVie during the 1st quarter worth $108,000. Hudock Capital Group LLC boosted its position in AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares during the period. Ffcm LLC boosted its position in AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the period. Finally, Bristlecone Advisors LLC acquired a new position in AbbVie during the 3rd quarter worth $113,000. Hedge funds and other institutional investors own 69.32% of the company’s stock.

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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.

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