Traders Sell AbbVie (ABBV) on Strength (ABBV)
Investors sold shares of AbbVie Inc (NYSE:ABBV) on strength during trading hours on Wednesday. $87.71 million flowed into the stock on the tick-up and $156.03 million flowed out of the stock on the tick-down, for a money net flow of $68.32 million out of the stock. Of all companies tracked, AbbVie had the 0th highest net out-flow for the day. AbbVie traded up $1.87 for the day and closed at $104.36
ABBV has been the subject of a number of research analyst reports. Jefferies Group increased their target price on shares of AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, October 16th. BMO Capital Markets set a $66.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research report on Friday, October 27th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. Piper Jaffray Companies increased their price objective on shares of AbbVie to $115.00 and gave the company an “overweight” rating in a research report on Friday, October 27th. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of AbbVie in a research report on Monday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. AbbVie currently has an average rating of “Buy” and a consensus price target of $101.38.
The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The firm has a market cap of $166,250.00, a PE ratio of 25.31, a PEG ratio of 1.23 and a beta of 1.53.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is 68.93%.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the transaction, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 494,676 shares of company stock valued at $47,237,938. Company insiders own 0.23% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors lifted its stake in AbbVie by 1.2% during the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock worth $12,926,708,000 after purchasing an additional 2,130,919 shares during the last quarter. Vanguard Group Inc. lifted its stake in AbbVie by 3.3% during the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock worth $8,405,409,000 after purchasing an additional 3,706,941 shares during the last quarter. BlackRock Inc. lifted its stake in AbbVie by 2.0% during the second quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock worth $6,821,375,000 after purchasing an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd lifted its stake in AbbVie by 35.7% during the second quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock worth $921,233,000 after purchasing an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd lifted its stake in AbbVie by 8.6% during the second quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock worth $859,589,000 after purchasing an additional 937,500 shares during the last quarter. Institutional investors own 69.19% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Traders Sell AbbVie (ABBV) on Strength (ABBV)” was first posted by Watch List News and is the property of of Watch List News. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.watchlistnews.com/traders-sell-abbvie-abbv-on-strength-abbv-2/1813849.html.
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.
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.