AbbVie Inc (NYSE:ABBV) Director Glenn F. Tilton bought 5,400 shares of the business’s stock in a transaction that occurred on Wednesday, June 27th. The shares were acquired at an average price of $91.90 per share, with a total value of $496,260.00. Following the completion of the transaction, the director now directly owns 39,735 shares of the company’s stock, valued at approximately $3,651,646.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
AbbVie traded up $0.22, hitting $92.65, during trading hours on Friday, MarketBeat reports. 6,743,433 shares of the stock traded hands, compared to its average volume of 7,754,533. The company has a debt-to-equity ratio of 8.70, a current ratio of 1.20 and a quick ratio of 1.10. AbbVie Inc has a 1 year low of $69.38 and a 1 year high of $125.86. The company has a market capitalization of $146.68 billion, a P/E ratio of 16.54, a P/E/G ratio of 0.86 and a beta of 1.61.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 26th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.08. AbbVie had a net margin of 21.55% and a return on equity of 186.47%. The business had revenue of $7.93 billion for the quarter, compared to the consensus estimate of $7.60 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. sell-side analysts anticipate that AbbVie Inc will post 7.8 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Shareholders of record on Friday, July 13th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Thursday, July 12th. AbbVie’s dividend payout ratio is currently 68.57%.
A number of large investors have recently modified their holdings of the business. Avalon Advisors LLC lifted its holdings in shares of AbbVie by 19.4% in the first quarter. Avalon Advisors LLC now owns 379,928 shares of the company’s stock worth $35,960,000 after buying an additional 61,700 shares in the last quarter. Mount Yale Investment Advisors LLC purchased a new position in shares of AbbVie in the first quarter worth $6,651,000. Greenline Partners LLC lifted its holdings in shares of AbbVie by 177.3% in the first quarter. Greenline Partners LLC now owns 23,844 shares of the company’s stock worth $2,257,000 after buying an additional 15,244 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of AbbVie in the first quarter worth $445,000. Finally, Rikoon Group LLC lifted its holdings in shares of AbbVie by 3.4% in the first quarter. Rikoon Group LLC now owns 94,912 shares of the company’s stock worth $8,680,000 after buying an additional 3,162 shares in the last quarter. 69.42% of the stock is currently owned by institutional investors and hedge funds.
ABBV has been the subject of several recent research reports. Jefferies Financial Group set a $122.00 target price on shares of AbbVie and gave the company a “buy” rating in a research report on Friday, April 13th. ValuEngine lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. Goldman Sachs Group lowered shares of AbbVie from a “conviction-buy” rating to a “buy” rating in a research report on Thursday, May 24th. Argus cut their target price on shares of AbbVie from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, June 11th. Finally, Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research report on Wednesday. Four analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. AbbVie presently has a consensus rating of “Hold” and an average price target of $105.85.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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