AbbVie Inc (ABBV) EVP Henry O. Gosebruch Sells 42,450 Shares

AbbVie Inc (NYSE:ABBV) EVP Henry O. Gosebruch sold 42,450 shares of the stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of $90.10, for a total value of $3,824,745.00. Following the transaction, the executive vice president now owns 30,350 shares in the company, valued at approximately $2,734,535. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NYSE:ABBV opened at $94.27 on Friday. The company has a market cap of $135.24 billion, a P/E ratio of 16.83, a P/E/G ratio of 0.84 and a beta of 1.62. AbbVie Inc has a 1 year low of $77.50 and a 1 year high of $125.86. The company has a debt-to-equity ratio of 8.70, a quick ratio of 1.08 and a current ratio of 1.20.

AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $8.23 billion. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 earnings per share. On average, analysts anticipate that AbbVie Inc will post 7.93 EPS for the current fiscal year.

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

A number of equities analysts have recently weighed in on the company. ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. Argus lowered their target price on AbbVie from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, November 6th. BMO Capital Markets lowered their target price on AbbVie from $78.00 to $71.00 and set an “underperform” rating on the stock in a research note on Monday, November 5th. Barclays reiterated a “hold” rating and set a $90.00 target price on shares of AbbVie in a research note on Sunday, November 4th. Finally, Credit Suisse Group set a $85.00 target price on AbbVie and gave the stock a “hold” rating in a research note on Friday, November 2nd. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Hold” and a consensus price target of $103.68.

Large investors have recently modified their holdings of the stock. Financial Gravity Wealth Inc. acquired a new stake in shares of AbbVie in the 1st quarter valued at $396,000. Rainier Group Investment Advisory LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at $161,000. Amalgamated Bank boosted its holdings in shares of AbbVie by 10.9% in the 1st quarter. Amalgamated Bank now owns 233,519 shares of the company’s stock valued at $22,103,000 after purchasing an additional 22,873 shares in the last quarter. Quad Cities Investment Group LLC acquired a new stake in shares of AbbVie in the 1st quarter valued at $359,000. Finally, Vestpro Financial Partners Inc. dba CPF Texas boosted its holdings in shares of AbbVie by 222.5% in the 1st quarter. Vestpro Financial Partners Inc. dba CPF Texas now owns 23,567 shares of the company’s stock valued at $2,231,000 after purchasing an additional 16,259 shares in the last quarter. 69.26% of the stock is currently owned by institutional investors and hedge funds.

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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 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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