Traders Sell AbbVie (ABBV) on Strength (ABBV)

Investors sold shares of AbbVie Inc (NYSE:ABBV) on strength during trading hours on Thursday. $62.50 million flowed into the stock on the tick-up and $98.11 million flowed out of the stock on the tick-down, for a money net flow of $35.61 million out of the stock. Of all equities tracked, AbbVie had the 0th highest net out-flow for the day. AbbVie traded up $0.97 for the day and closed at $89.91

Several brokerages have recently commented on ABBV. Credit Suisse Group set a $85.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Sunday, October 14th. Barclays restated a “hold” rating and set a $90.00 price objective on shares of AbbVie in a report on Sunday, November 4th. Bank of America decreased their price objective on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, October 4th. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Monday, October 1st. Finally, SunTrust Banks decreased their price objective on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating for the company in a report on Monday, October 22nd. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $103.68.

The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 8.70. The firm has a market capitalization of $135.24 billion, a PE ratio of 16.83, a PEG ratio of 0.84 and a beta of 1.62.

AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.13. The business had revenue of $8.24 billion during 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 quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 earnings per share. Analysts forecast that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend is Monday, January 14th. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.

In other AbbVie news, EVP Henry O. Gosebruch sold 42,450 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Capital International Investors boosted its position 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 acquiring an additional 20,063,435 shares during the period. Capital World Investors boosted its position 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 acquiring an additional 10,858,432 shares during the period. Matthew Goff Investment Advisor LLC boosted its position in shares of AbbVie by 9,165.1% in the third quarter. Matthew Goff Investment Advisor LLC now owns 2,226,305 shares of the company’s stock valued at $24,029,000 after acquiring an additional 2,202,276 shares during the period. FMR LLC boosted its position in shares of AbbVie by 22.1% in the third quarter. FMR LLC now owns 8,707,454 shares of the company’s stock valued at $823,551,000 after acquiring an additional 1,574,495 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of AbbVie in the third quarter valued at approximately $133,646,000. Hedge funds and other institutional investors own 69.26% 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 biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with 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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