AbbVie Inc. (NYSE:ABBV) SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the transaction, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of AbbVie Inc. (NYSE ABBV) opened at 87.75 on Wednesday. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $87.97. The stock’s 50 day moving average price is $73.09 and its 200-day moving average price is $68.79. The stock has a market cap of $139.88 billion, a price-to-earnings ratio of 21.58 and a beta of 1.48.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 EPS. On average, equities research analysts forecast that AbbVie Inc. will post $5.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is 62.90%.
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Several research analysts have recently commented on ABBV shares. Credit Suisse Group reissued a “hold” rating and set a $65.00 price objective on shares of AbbVie in a report on Wednesday, June 7th. BMO Capital Markets reissued a “market perform” rating and set a $66.00 price objective on shares of AbbVie in a report on Wednesday, May 17th. Zacks Investment Research lowered AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Societe Generale raised AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Jefferies Group LLC reissued a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $79.25.
Institutional investors have recently made changes to their positions in the company. Acropolis Investment Management LLC purchased a new position in shares of AbbVie in the 2nd quarter worth approximately $106,000. Ffcm LLC boosted its holdings in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares during the period. Hudock Capital Group LLC boosted its holdings in shares of AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares during the period. First Command Financial Services Inc. boosted its holdings in shares of AbbVie by 6.8% in the 1st quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after purchasing an additional 99 shares during the period. Finally, BDO Wealth Advisors LLC purchased a new position in shares of AbbVie in the 2nd quarter worth approximately $115,000. Hedge funds and other institutional investors own 68.29% of the company’s stock.
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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