Traders sold shares of AbbVie Inc. (NYSE:ABBV) on strength during trading on Friday. $93.66 million flowed into the stock on the tick-up and $138.11 million flowed out of the stock on the tick-down, for a money net flow of $44.45 million out of the stock. Of all stocks tracked, AbbVie had the 0th highest net out-flow for the day. AbbVie traded up $1.71 for the day and closed at $95.95
Several equities analysts have weighed in on the company. Evercore ISI assumed coverage on AbbVie in a report on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 price objective for the company. Leerink Swann set a $106.00 price objective on AbbVie and gave the company a “buy” rating in a report on Tuesday, December 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $95.00 price objective on shares of AbbVie in a report on Wednesday, September 13th. UBS cut AbbVie from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $79.00 to $92.00 in a report on Monday, September 25th. Finally, Argus boosted their price target on AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. AbbVie currently has a consensus rating of “Buy” and an average price target of $97.96.
The firm has a market capitalization of $153,177.45, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.33 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 released its quarterly earnings results on Friday, October 27th. The company reported $1.41 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 firm had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the company posted $1.21 EPS. The business’s revenue was up 8.8% on a year-over-year basis. analysts forecast that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is 62.29%.
In related news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the sale, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 492,030 shares in the company, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. Insiders sold a total of 277,125 shares of company stock worth $25,891,756 in the last quarter. Corporate insiders own 0.23% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new stake in AbbVie during the 3rd quarter valued at $544,418,000. Capital International Investors raised its stake in AbbVie by 137.7% during the 3rd quarter. Capital International Investors now owns 7,854,929 shares of the company’s stock valued at $697,989,000 after buying an additional 4,550,954 shares during the last quarter. Vanguard Group Inc. raised its stake in AbbVie by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after buying an additional 3,706,941 shares during the last quarter. Janus Henderson Group PLC raised its stake in AbbVie by 1,949.7% during the 2nd quarter. Janus Henderson Group PLC now owns 3,833,535 shares of the company’s stock valued at $277,967,000 after buying an additional 3,646,510 shares during the last quarter. Finally, Orbis Allan Gray Ltd raised its stake in AbbVie by 35.7% during the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after buying an additional 3,340,038 shares during the last quarter. Hedge funds and other institutional investors own 69.32% 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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