AbbVie Inc (ABBV) Insider Laura J. Schumacher Sells 94,140 Shares of Stock
AbbVie Inc (NYSE:ABBV) insider Laura J. Schumacher sold 94,140 shares of the business’s stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $93.58, for a total value of $8,809,621.20. Following the transaction, the insider now directly owns 192,398 shares in the company, valued at approximately $18,004,604.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NYSE:ABBV traded down $3.37 during trading on Friday, reaching $86.96. 6,618,185 shares of the stock were exchanged, compared to its average volume of 6,168,640. AbbVie Inc has a 12 month low of $77.50 and a 12 month high of $125.86. The stock has a market cap of $135.88 billion, a PE ratio of 15.53, a P/E/G ratio of 0.84 and a beta of 1.68. The company has a quick ratio of 1.08, a current ratio of 1.20 and a debt-to-equity ratio of 8.70.
AbbVie (NYSE:ABBV) last issued 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. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue was up 17.7% on a year-over-year basis. Equities research analysts expect that AbbVie Inc will post 7.93 earnings per share for the current year.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of AbbVie by 0.8% in the third quarter. Vanguard Group Inc. now owns 118,762,307 shares of the company’s stock valued at $11,232,540,000 after buying an additional 912,625 shares during the period. Capital International Investors boosted its stake 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 buying an additional 20,063,435 shares during the period. Capital World Investors raised its position in AbbVie by 74.9% during the third quarter. Capital World Investors now owns 25,359,025 shares of the company’s stock valued at $2,398,457,000 after purchasing an additional 10,858,432 shares in the last quarter. Bank of New York Mellon Corp raised its position in AbbVie by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 15,879,753 shares of the company’s stock valued at $1,501,907,000 after purchasing an additional 382,597 shares in the last quarter. Finally, Morgan Stanley raised its position in AbbVie by 8.1% during the third quarter. Morgan Stanley now owns 12,038,744 shares of the company’s stock valued at $1,138,626,000 after purchasing an additional 904,274 shares in the last quarter. Institutional investors own 69.85% of the company’s stock.
A number of equities analysts have weighed in on the company. Bank of America boosted their price target on AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, August 22nd. BMO Capital Markets reissued a “sell” rating and set a $78.00 price target on shares of AbbVie in a research report on Wednesday, August 22nd. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Monday, October 1st. Credit Suisse Group set a $85.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Sunday, October 14th. Finally, ValuEngine raised AbbVie from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $103.68.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating 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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