AbbVie Inc (NYSE:ABBV) SVP Timothy J. Richmond sold 87,040 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the sale, the senior vice president now directly owns 113,118 shares in the company, valued at $11,136,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of AbbVie Inc (ABBV) opened at $97.92 on Wednesday. The firm has a market cap of $156,753.45, a P/E ratio of 18.49, a P/E/G ratio of 1.37 and a beta of 1.52. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc has a one year low of $59.27 and a one year high of $99.10.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $1.21 earnings per share. equities analysts anticipate that AbbVie Inc will post 5.55 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in ABBV. Savant Capital LLC grew its position in AbbVie by 1.3% during the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after acquiring an additional 793 shares during the last quarter. Princeton Capital Management Inc. bought a new position in shares of AbbVie in the second quarter worth approximately $1,394,000. Accident Compensation Corp grew its holdings in shares of AbbVie by 24.7% in the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock worth $4,314,000 after purchasing an additional 13,100 shares during the last quarter. Investec Asset Management LTD grew its holdings in shares of AbbVie by 3.6% in the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock worth $10,880,000 after purchasing an additional 5,801 shares during the last quarter. Finally, Palisade Asset Management LLC grew its holdings in shares of AbbVie by 17.9% in the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after purchasing an additional 10,381 shares during the last quarter. 69.18% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently issued reports on ABBV shares. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Tuesday, October 17th. BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Goldman Sachs Group reissued a “buy” rating and issued a $100.00 price target (up from $85.00) on shares of AbbVie in a report on Friday, September 8th. Deutsche Bank increased their price target on shares of AbbVie to $88.00 and gave the stock a “hold” rating in a report on Thursday, September 28th. Finally, Jefferies Group reissued a “buy” rating and issued a $107.00 price target (up from $94.00) on shares of AbbVie in a report on Friday, September 15th. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $97.96.
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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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