AbbVie Inc. (NYSE:ABBV) Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now directly 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 is accessible through the SEC website.
AbbVie Inc. (NYSE:ABBV) opened at $95.41 on Wednesday. AbbVie Inc. has a 12-month low of $58.80 and a 12-month high of $98.52. 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 capitalization of $152,012.06, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.52.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the firm posted $1.21 EPS. The business’s revenue was up 8.8% on a year-over-year basis. sell-side analysts expect that AbbVie Inc. will post 5.55 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the company. Acropolis Investment Management LLC acquired a new position in AbbVie in the 2nd quarter valued at $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in AbbVie in the 1st quarter valued at $108,000. Hudock Capital Group LLC grew its holdings in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after buying an additional 806 shares in the last quarter. Ffcm LLC grew its holdings in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after buying an additional 963 shares in the last quarter. Finally, Bristlecone Advisors LLC acquired a new position in AbbVie in the 3rd quarter valued at $113,000. Institutional investors own 69.32% of the company’s stock.
A number of research firms recently issued reports on ABBV. Leerink Swann set a $106.00 price target on AbbVie and gave the company a “buy” rating in a report on Tuesday. ValuEngine cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Barclays reissued a “hold” rating and set a $68.00 price objective on shares of AbbVie in a report on Thursday, September 28th. BMO Capital Markets set a $84.00 target price on AbbVie and gave the stock a “hold” rating in a research report on Monday. Finally, Evercore ISI restated an “outperform” rating and set a $100.00 target price (up from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $96.66.
COPYRIGHT VIOLATION WARNING: “Richard A. Gonzalez Sells 218,193 Shares of AbbVie Inc. (NYSE:ABBV) Stock” was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://stocknewstimes.com/2017/12/06/abbvie-inc-abbv-chairman-sells-20512323-93-in-stock.html.
AbbVie Company Profile
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with MarketBeat.com's FREE daily email newsletter.