Traders Buy Shares of AbbVie (ABBV) on Weakness

Investors bought shares of AbbVie Inc (NYSE:ABBV) on weakness during trading hours on Monday. $379.76 million flowed into the stock on the tick-up and $267.98 million flowed out of the stock on the tick-down, for a money net flow of $111.78 million into the stock. Of all equities tracked, AbbVie had the 9th highest net in-flow for the day. AbbVie traded down ($0.90) for the day and closed at $122.31

ABBV has been the subject of a number of research analyst reports. Credit Suisse Group reaffirmed a “neutral” rating and issued a $135.00 target price (up from $98.00) on shares of AbbVie in a report on Monday. Societe Generale increased their price target on shares of AbbVie in a research report on Tuesday, November 21st. Leerink Swann lowered shares of AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 price target on the stock. in a research report on Monday. BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the company a “hold” rating in a research report on Thursday, January 11th. Finally, Jefferies Group increased their price target on shares of AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. AbbVie presently has an average rating of “Buy” and an average target price of $111.27.

The company has a market capitalization of $194,970.00, a PE ratio of 29.69, a PEG ratio of 1.28 and a beta of 1.53. 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 earnings results on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 152.78%. The firm had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the business earned $1.20 earnings per share. AbbVie’s revenue was up 13.9% compared to the same quarter last year. equities research analysts expect that AbbVie Inc will post 7.38 earnings per share for the current year.

In related news, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 114,922 shares in the company, valued at $10,881,964.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the sale, the senior vice president now owns 113,118 shares in the company, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 476,376 shares of company stock worth $45,580,873. 0.23% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bristlecone Advisors LLC acquired a new position in shares of AbbVie in the 3rd quarter valued at $113,000. Ffcm LLC boosted its holdings in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the last quarter. Hudock Capital Group LLC boosted its holdings in shares of AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the last quarter. Hershey Trust Co. acquired a new position in shares of AbbVie in the 3rd quarter valued at $139,000. Finally, BDO Wealth Advisors LLC acquired a new position in shares of AbbVie in the 2nd quarter valued at $115,000. Hedge funds and other institutional investors own 69.28% 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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