Investors Buy AbbVie (ABBV) on Weakness

Investors purchased shares of AbbVie Inc. (NYSE:ABBV) on weakness during trading on Thursday. $164.22 million flowed into the stock on the tick-up and $77.21 million flowed out of the stock on the tick-down, for a money net flow of $87.01 million into the stock. Of all equities tracked, AbbVie had the 11th highest net in-flow for the day. AbbVie traded down ($1.31) for the day and closed at $93.01

Several equities analysts have recently weighed in on ABBV shares. BMO Capital Markets set a $84.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 target price on the stock in a research note on Wednesday, December 20th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Tuesday, January 2nd. Piper Jaffray restated a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Finally, Jefferies Group raised their target price on shares of AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. AbbVie currently has a consensus rating of “Buy” and a consensus price target of $117.85.

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The stock has a market cap of $148,618.39, a PE ratio of 16.61, a P/E/G ratio of 0.90 and a beta of 1.61. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.04. The firm had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.20 earnings per share. equities analysts expect that AbbVie Inc. will post 7.53 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be given a dividend of $0.96 per share. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 4.13%. This is a boost from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.

AbbVie announced that its board has initiated a stock repurchase plan on Thursday, February 15th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

In related news, EVP Carlos Alban sold 83,574 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $114.49, for a total value of $9,568,387.26. Following the completion of the transaction, the executive vice president now directly owns 133,026 shares of the company’s stock, valued at $15,230,146.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Laura J. Schumacher sold 25,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.85, for a total transaction of $2,946,250.00. Following the completion of the transaction, the insider now directly owns 123,317 shares of the company’s stock, valued at $14,532,908.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 211,197 shares of company stock worth $24,585,575. Company insiders own 0.07% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Ffcm LLC boosted its stake in AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the period. Bristlecone Advisors LLC purchased a new position in AbbVie during the third quarter worth $113,000. Truewealth LLC purchased a new position in AbbVie during the fourth quarter worth $126,000. Delpha Capital Management LLC purchased a new position in AbbVie during the fourth quarter worth $131,000. Finally, Hershey Trust Co. purchased a new position in AbbVie during the third quarter worth $139,000. 70.57% of the stock is owned by hedge funds and other institutional investors.

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AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of 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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