AbbVie Inc (NYSE:ABBV) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $106.12 and last traded at $106.28, with a volume of 1755725 shares traded. The stock had previously closed at $104.64.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Monday. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price objective for the company. in a report on Monday, January 8th. Jefferies Group upped their price objective on shares of AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. BMO Capital Markets set a $84.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of AbbVie in a research report on Tuesday, January 2nd. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $101.38.
The company has a market capitalization of $169,360.00, a PE ratio of 25.40, a price-to-earnings-growth ratio of 1.22 and a beta of 1.53. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.71%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 68.93%.
In other news, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the transaction, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock valued at $47,237,938 in the last ninety days. 0.23% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Research Global Investors increased its stake in AbbVie by 1.2% in the second quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after acquiring an additional 2,130,919 shares during the period. Vanguard Group Inc. increased its stake in AbbVie by 3.3% in the second quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after acquiring an additional 3,706,941 shares during the period. BlackRock Inc. grew 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 buying an additional 1,864,418 shares during the last quarter. Orbis Allan Gray Ltd grew 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 buying an additional 3,340,038 shares during the last quarter. Finally, Woodford Investment Management Ltd grew 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 buying an additional 937,500 shares during the last quarter. 69.22% of the stock is currently owned by institutional investors and hedge funds.
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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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