AbbVie Inc (NYSE:ABBV) Vice Chairman Carlos Alban sold 53,325 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $100.00, for a total value of $5,332,500.00. Following the transaction, the insider now directly owns 137,899 shares of the company's stock, valued at approximately $13,789,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
ABBV stock opened at $99.28 on Thursday. The company has a market cap of $146.71 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 2.13 and a beta of 0.86. AbbVie Inc has a 1 year low of $62.55 and a 1 year high of $100.69. The stock's fifty day moving average price is $94.62 and its 200-day moving average price is $87.37.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, May 1st. The company reported $2.42 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $2.25 by $0.17. The firm had revenue of $8.62 billion for the quarter, compared to the consensus estimate of $8.31 billion. AbbVie had a negative return on equity of 169.80% and a net margin of 24.77%. The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the business posted $2.14 EPS. Sell-side analysts expect that AbbVie Inc will post 10.54 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Wednesday, July 15th will be paid a $1.18 dividend. The ex-dividend date is Tuesday, July 14th. This represents a $4.72 dividend on an annualized basis and a dividend yield of 4.75%. AbbVie's dividend payout ratio (DPR) is currently 52.80%.
ABBV has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an "overweight" rating and set a $95.00 price objective on shares of AbbVie in a research report on Monday, May 11th. Atlantic Securities raised AbbVie from a "neutral" rating to an "overweight" rating and set a $115.00 price objective for the company in a research report on Tuesday, June 23rd. Wolfe Research upgraded AbbVie from a "peer perform" rating to an "outperform" rating in a research note on Tuesday, June 9th. Evercore ISI started coverage on AbbVie in a research note on Wednesday, June 10th. They set a "buy" rating and a $111.00 target price on the stock. Finally, TheStreet upgraded AbbVie from a "c+" rating to a "b-" rating in a research note on Friday, June 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. AbbVie has a consensus rating of "Buy" and an average price target of $106.80.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Investors Asset Management of Georgia Inc. GA ADV lifted its position in AbbVie by 6.2% during the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 18,049 shares of the company's stock valued at $1,375,000 after purchasing an additional 1,050 shares in the last quarter. Lido Advisors LLC lifted its position in AbbVie by 50.9% during the first quarter. Lido Advisors LLC now owns 56,616 shares of the company's stock valued at $4,314,000 after purchasing an additional 19,088 shares in the last quarter. Evercore Wealth Management LLC lifted its position in AbbVie by 1.9% during the fourth quarter. Evercore Wealth Management LLC now owns 103,953 shares of the company's stock valued at $9,204,000 after purchasing an additional 1,955 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its position in AbbVie by 60.9% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 13,757 shares of the company's stock valued at $1,218,000 after purchasing an additional 5,205 shares in the last quarter. Finally, APG Asset Management N.V. lifted its position in AbbVie by 142.8% during the first quarter. APG Asset Management N.V. now owns 1,743,224 shares of the company's stock valued at $132,816,000 after purchasing an additional 1,025,112 shares in the last quarter. Institutional investors own 72.44% of the company's stock.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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