Investors purchased shares of AbbVie Inc (NYSE:ABBV) on weakness during trading on Thursday. $265.83 million flowed into the stock on the tick-up and $144.78 million flowed out of the stock on the tick-down, for a money net flow of $121.05 million into the stock. Of all stocks tracked, AbbVie had the 12th highest net in-flow for the day. AbbVie traded down ($0.22) for the day and closed at $90.33
ABBV has been the topic of a number of research reports. BMO Capital Markets reissued a “sell” rating and issued a $78.00 price objective on shares of AbbVie in a research report on Wednesday, August 22nd. Bank of America boosted their price objective on shares of AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Monday, October 1st. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research report on Sunday, October 14th. Finally, ValuEngine lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. AbbVie has a consensus rating of “Hold” and an average target price of $103.68.
The firm has a market capitalization of $135.88 billion, a price-to-earnings ratio of 15.53, a price-to-earnings-growth ratio of 0.84 and a beta of 1.68. The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 8.70.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion for 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 company earned $1.41 earnings per share. Equities research analysts forecast that AbbVie Inc will post 7.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.92%. This is an increase from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. AbbVie’s payout ratio is presently 68.57%.
In other AbbVie news, insider Laura J. Schumacher sold 94,140 shares of the company’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $93.58, for a total value of $8,809,621.20. Following the transaction, the insider now directly owns 192,398 shares in the company, valued at $18,004,604.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Henry O. Gosebruch sold 42,450 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 30,350 shares in the company, valued at $2,734,535. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of AbbVie by 0.8% in the third quarter. Vanguard Group Inc. now owns 118,762,307 shares of the company’s stock valued at $11,232,540,000 after purchasing an additional 912,625 shares during the last quarter. Capital International Investors increased its holdings in shares of AbbVie by 266.4% in the third quarter. Capital International Investors now owns 27,594,648 shares of the company’s stock valued at $2,609,902,000 after purchasing an additional 20,063,435 shares during the last quarter. Capital World Investors increased its holdings in shares of AbbVie by 74.9% in the third quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock valued at $2,398,457,000 after purchasing an additional 10,858,432 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of AbbVie by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 15,879,753 shares of the company’s stock valued at $1,501,907,000 after purchasing an additional 382,597 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of AbbVie by 8.1% in the third quarter. Morgan Stanley now owns 12,038,744 shares of the company’s stock valued at $1,138,626,000 after purchasing an additional 904,274 shares during the last quarter. Hedge funds and other institutional investors own 69.85% of the company’s stock.
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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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