Investors sold shares of AbbVie Inc (NYSE:ABBV) on strength during trading hours on Friday. $62.66 million flowed into the stock on the tick-up and $98.37 million flowed out of the stock on the tick-down, for a money net flow of $35.71 million out of the stock. Of all companies tracked, AbbVie had the 0th highest net out-flow for the day. AbbVie traded up $0.33 for the day and closed at $95.80
Several analysts have commented on ABBV shares. Argus lowered their price target on AbbVie from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, June 11th. Goldman Sachs Group cut AbbVie from a “conviction-buy” rating to a “buy” rating in a report on Thursday, May 24th. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a report on Wednesday, June 27th. Jefferies Financial Group set a $100.00 target price on AbbVie and gave the stock a “buy” rating in a report on Sunday, July 15th. Finally, Cowen set a $110.00 target price on AbbVie and gave the stock a “buy” rating in a report on Friday, July 27th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $105.88.
The company has a quick ratio of 1.10, a current ratio of 0.80 and a debt-to-equity ratio of -9.06. The firm has a market capitalization of $144.57 billion, a PE ratio of 14.12, a PEG ratio of 0.87 and a beta of 1.56.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.02. The firm had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.22 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. AbbVie’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 EPS. analysts expect that AbbVie Inc will post 7.86 earnings per share for the current year.
The business 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 $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Thursday, July 12th. AbbVie’s dividend payout ratio is presently 68.57%.
In related news, Director Glenn F. Tilton purchased 5,400 shares of the firm’s stock in a transaction on Wednesday, June 27th. The stock was purchased at an average price of $91.90 per share, for a total transaction of $496,260.00. Following the acquisition, the director now directly owns 39,735 shares in the company, valued at $3,651,646.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy J. Richmond sold 17,588 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $99.47, for a total value of $1,749,478.36. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Truewealth LLC bought a new position in shares of AbbVie in the 4th quarter valued at $126,000. Delpha Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at $131,000. Virtue Capital Management LLC bought a new position in shares of AbbVie in the 4th quarter valued at $139,000. Fairfield Bush & CO. bought a new position in shares of AbbVie in the 1st quarter valued at $146,000. Finally, Trustcore Financial Services LLC bought a new position in shares of AbbVie in the 4th quarter valued at $148,000. 69.09% of the stock is currently owned by institutional investors.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for 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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