AbbVie Inc (NYSE:ABBV) VP Robert A. Michael sold 992 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total value of $119,347.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
AbbVie Inc (ABBV) opened at $117.98 on Wednesday. AbbVie Inc has a 52-week low of $61.30 and a 52-week high of $125.86. The company has a market capitalization of $188,333.59, a PE ratio of 35.86, a PEG ratio of 1.13 and a beta of 1.61. 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 (NYSE:ABBV) last announced its quarterly earnings data on Friday, January 26th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a return on equity of 152.78% and a net margin of 18.82%. The business had revenue of $7.74 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. sell-side analysts predict that AbbVie Inc will post 7.46 EPS for the current fiscal year.
AbbVie declared that its Board of Directors has approved a stock buyback plan on Thursday, February 15th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.25%. This is an increase from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. AbbVie’s payout ratio is presently 86.32%.
Several analysts have issued reports on ABBV shares. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Piper Jaffray Companies boosted their price target on AbbVie to $115.00 and gave the company an “overweight” rating in a report on Friday, October 27th. BMO Capital Markets set a $66.00 price target on AbbVie and gave the company a “hold” rating in a report on Friday, October 27th. Leerink Swann cut their price target on AbbVie from $108.00 to $107.00 and set an “outperform” rating for the company in a report on Monday, October 30th. Finally, SunTrust Banks reissued a “buy” rating on shares of AbbVie in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $118.44.
Institutional investors have recently made changes to their positions in the company. Savant Capital LLC lifted its position in shares of AbbVie by 1.3% in the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after buying an additional 793 shares in the last quarter. Palisade Asset Management LLC lifted its position in shares of AbbVie by 17.9% in the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after buying an additional 10,381 shares in the last quarter. Beaton Management Co. Inc. purchased a new stake in shares of AbbVie in the second quarter worth about $528,000. Greatmark Investment Partners Inc. lifted its position in shares of AbbVie by 3.7% in the second quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock worth $2,551,000 after buying an additional 1,242 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in shares of AbbVie in the third quarter worth about $544,418,000. Institutional investors and hedge funds own 69.49% 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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