Richard A. Gonzalez Sells 218,193 Shares of AbbVie Inc. (NYSE:ABBV) Stock

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.

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 paid 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 2.98%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 62.29%.

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.

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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.

Insider Buying and Selling by Quarter for AbbVie (NYSE:ABBV)

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