Traders Sell Shares of AbbVie (ABBV) on Strength (ABBV)

Traders sold shares of AbbVie Inc (NYSE:ABBV) on strength during trading hours on Monday. $43.42 million flowed into the stock on the tick-up and $114.15 million flowed out of the stock on the tick-down, for a money net flow of $70.73 million out of the stock. Of all stocks tracked, AbbVie had the 0th highest net out-flow for the day. AbbVie traded up $0.30 for the day and closed at $98.21

A number of research analysts have recently issued reports on ABBV shares. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a research note on Tuesday, October 17th. BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Goldman Sachs Group reiterated a “buy” rating and issued a $100.00 target price (up previously from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Deutsche Bank lifted their target price on shares of AbbVie to $88.00 and gave the company a “hold” rating in a research note on Thursday, September 28th. Finally, Jefferies Group restated a “buy” rating and issued a $107.00 price objective (up previously from $94.00) on shares of AbbVie in a research report on Friday, September 15th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and a consensus target price of $100.26.

The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The company has a market capitalization of $156,785.38, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.37 and a beta of 1.52.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the business earned $1.21 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. equities research analysts anticipate that AbbVie Inc will post 5.55 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 62.29%.

In other news, insider Laura J. Schumacher sold 145,510 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total value of $14,072,272.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold a total of 501,375 shares of company stock valued at $47,827,450 in the last ninety days. Company insiders own 0.23% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its stake in AbbVie by 5.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,418,955 shares of the company’s stock worth $303,808,000 after purchasing an additional 188,933 shares during the period. Shelton Capital Management lifted its position in AbbVie by 59.6% during the 3rd quarter. Shelton Capital Management now owns 127,799 shares of the company’s stock worth $11,356,000 after buying an additional 47,700 shares in the last quarter. GSB Wealth Management LLC bought a new stake in AbbVie during the 3rd quarter worth about $240,000. Steward Partners Investment Advisory LLC bought a new stake in AbbVie during the 3rd quarter worth about $5,754,000. Finally, Public Employees Retirement System of Ohio lifted its position in AbbVie by 0.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,101,377 shares of the company’s stock worth $97,868,000 after buying an additional 4,028 shares in the last quarter. 69.18% of the stock is owned by institutional investors.

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About AbbVie

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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