Investors Buy AbbVie (ABBV) on Weakness on Insider Selling

Investors bought shares of AbbVie Inc (NYSE:ABBV) on weakness during trading hours on Friday after an insider sold shares in the company. $182.65 million flowed into the stock on the tick-up and $91.80 million flowed out of the stock on the tick-down, for a money net flow of $90.85 million into the stock. Of all companies tracked, AbbVie had the 18th highest net in-flow for the day. AbbVie traded down ($3.37) for the day and closed at $86.96Specifically, insider Laura J. Schumacher sold 94,140 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $93.58, for a total transaction of $8,809,621.20. Following the transaction, the insider now owns 192,398 shares in the company, valued at $18,004,604.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Henry O. Gosebruch sold 42,450 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were sold at an average price of $90.10, for a total transaction of $3,824,745.00. Following the transaction, the executive vice president now owns 30,350 shares in the company, valued at approximately $2,734,535. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.

ABBV has been the topic of several research reports. BMO Capital Markets reiterated a “sell” rating and set a $78.00 price objective on shares of AbbVie in a report on Wednesday, August 22nd. ValuEngine lowered shares of AbbVie from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Bank of America upped their price objective on shares of AbbVie from $105.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, August 22nd. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the company a “hold” rating in a report on Friday, November 2nd. Finally, Wolfe Research initiated coverage on shares of AbbVie in a report on Tuesday, October 23rd. They set an “underperform” rating on the stock. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $103.68.

The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.08 and a current ratio of 1.20. The stock has a market capitalization of $136.21 billion, a P/E ratio of 15.53, a PEG ratio of 0.84 and a beta of 1.68.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, November 2nd. The company reported $2.14 EPS for the quarter, topping the consensus estimate of $2.01 by $0.13. The company had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.23 billion. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 earnings per share. On average, equities analysts anticipate that AbbVie Inc will post 7.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, January 14th. This is an increase from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 annualized dividend and a dividend yield of 4.92%. AbbVie’s payout ratio is presently 68.57%.

Several large investors have recently bought and sold shares of ABBV. Good Life Advisors LLC grew its position in AbbVie by 5.6% in the 2nd quarter. Good Life Advisors LLC now owns 10,060 shares of the company’s stock worth $933,000 after purchasing an additional 537 shares in the last quarter. Lido Advisors LLC grew its position in AbbVie by 2.4% in the 2nd quarter. Lido Advisors LLC now owns 23,371 shares of the company’s stock worth $2,165,000 after purchasing an additional 537 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in AbbVie by 1.0% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 56,086 shares of the company’s stock worth $5,196,000 after purchasing an additional 550 shares in the last quarter. Investors Asset Management of Georgia Inc. GA ADV grew its position in AbbVie by 5.6% in the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 10,631 shares of the company’s stock worth $985,000 after purchasing an additional 564 shares in the last quarter. Finally, Windsor Capital Management LLC grew its position in AbbVie by 5.4% in the 2nd quarter. Windsor Capital Management LLC now owns 11,122 shares of the company’s stock worth $1,030,000 after purchasing an additional 565 shares in the last quarter. 69.85% of the stock is owned by institutional investors.

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AbbVie Company Profile (NYSE:ABBV)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.

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