AbbVie Inc. (ABBV) Insider Sells $1,657,065.00 in Stock
AbbVie Inc. (NYSE:ABBV) insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.78% during trading on Tuesday, reaching $90.25. The company’s stock had a trading volume of 7,059,309 shares. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $98.26. The stock has a market cap of $143.87 billion, a P/E ratio of 22.20 and a beta of 1.51. The stock’s 50-day moving average is $89.93 and its 200-day moving average is $75.20.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same quarter last year, the business posted $1.21 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post $5.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a dividend of $0.71 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 3.15%. AbbVie’s dividend payout ratio (DPR) is presently 62.29%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Acropolis Investment Management LLC purchased a new stake in AbbVie during the second quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in AbbVie during the first quarter valued at about $108,000. Hudock Capital Group LLC raised its position in AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares in the last quarter. Ffcm LLC raised its position in AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares in the last quarter. Finally, Bristlecone Advisors LLC purchased a new stake in AbbVie during the third quarter valued at about $113,000. Institutional investors and hedge funds own 68.49% of the company’s stock.
A number of analysts have recently weighed in on the company. Piper Jaffray Companies reiterated a “buy” rating and set a $85.00 target price on shares of AbbVie in a research report on Thursday, August 3rd. Evercore ISI assumed coverage on AbbVie in a research report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 target price for the company. Leerink Swann upgraded AbbVie from a “market perform” rating to an “outperform” rating and upped their target price for the company from $89.00 to $106.00 in a research report on Monday, October 2nd. SunTrust Banks, Inc. reiterated a “buy” rating on shares of AbbVie in a research report on Monday. Finally, BidaskClub downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $93.68.
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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