Insider Selling: AbbVie Inc. (NYSE:ABBV) Vice Chairman Sells 100,000 Shares of Stock

AbbVie Inc. (NYSE:ABBVGet Rating) Vice Chairman Michael Severino sold 100,000 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $154.45, for a total value of $15,445,000.00. Following the transaction, the insider now owns 152,103 shares of the company’s stock, valued at $23,492,308.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Severino also recently made the following trade(s):

  • On Friday, May 6th, Michael Severino sold 100,000 shares of AbbVie stock. The stock was sold at an average price of $150.81, for a total value of $15,081,000.00.
  • On Monday, May 9th, Michael Severino sold 100,000 shares of AbbVie stock. The stock was sold at an average price of $150.28, for a total value of $15,028,000.00.

Shares of ABBV traded down $2.35 during midday trading on Wednesday, reaching $152.43. 6,497,091 shares of the stock were exchanged, compared to its average volume of 7,901,757. The business’s 50-day moving average price is $158.03 and its 200 day moving average price is $141.07. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. AbbVie Inc. has a twelve month low of $105.56 and a twelve month high of $175.91. The company has a market capitalization of $269.36 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 4.31 and a beta of 0.83.

AbbVie (NYSE:ABBVGet Rating) last posted its earnings results on Friday, April 29th. The company reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $3.14 by $0.02. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The business had revenue of $13.36 billion for the quarter, compared to analysts’ expectations of $13.61 billion. During the same quarter in the previous year, the firm earned $2.95 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that AbbVie Inc. will post 14.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 16th. Investors of record on Friday, April 15th were given a $1.41 dividend. This represents a $5.64 annualized dividend and a yield of 3.70%. The ex-dividend date was Wednesday, April 13th. AbbVie’s dividend payout ratio (DPR) is presently 80.92%.

A number of hedge funds have recently modified their holdings of ABBV. Norges Bank acquired a new position in AbbVie in the 4th quarter valued at about $2,433,269,000. Vanguard Group Inc. increased its position in AbbVie by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 150,518,780 shares of the company’s stock valued at $24,400,600,000 after acquiring an additional 4,206,711 shares during the period. Arrowstreet Capital Limited Partnership increased its position in AbbVie by 426.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,652,122 shares of the company’s stock valued at $754,155,000 after acquiring an additional 3,768,579 shares during the period. State Street Corp increased its position in AbbVie by 3.4% in the 4th quarter. State Street Corp now owns 79,357,705 shares of the company’s stock valued at $10,745,033,000 after acquiring an additional 2,597,076 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in AbbVie in the 4th quarter valued at about $272,868,000. Hedge funds and other institutional investors own 67.03% of the company’s stock.

Several research analysts have recently commented on ABBV shares. Morgan Stanley raised their price target on AbbVie from $142.00 to $192.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 6th. Cowen lifted their target price on AbbVie from $130.00 to $150.00 in a report on Tuesday, January 18th. JPMorgan Chase & Co. lifted their target price on AbbVie from $165.00 to $180.00 in a report on Thursday, February 3rd. UBS Group lowered AbbVie from a “buy” rating to a “neutral” rating and lifted their target price for the company from $129.00 to $147.00 in a report on Monday, February 28th. Finally, Citigroup lifted their target price on AbbVie from $155.00 to $170.00 in a report on Tuesday, March 1st. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, AbbVie presently has an average rating of “Buy” and a consensus price target of $159.44.

AbbVie Company Profile (Get Rating)

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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