AbbVie Inc (NYSE:ABBV) EVP Carlos Alban sold 43,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $67.00, for a total transaction of $2,881,000.00. Following the sale, the executive vice president now owns 114,745 shares of the company’s stock, valued at approximately $7,687,915. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
AbbVie (NYSE:ABBV) last released its earnings results on Thursday, April 27th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.26 by $0.02. AbbVie had a net margin of 23.22% and a return on equity of 141.55%. The firm had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year.
Several institutional investors have recently added to or reduced their stakes in the company. Wright Investors Service Inc. increased its position in AbbVie by 149.1% in the third quarter. Wright Investors Service Inc. now owns 47,420 shares of the company’s stock valued at $2,991,000 after buying an additional 28,380 shares during the period. Nationwide Fund Advisors boosted its stake in shares of AbbVie by 61.2% in the third quarter. Nationwide Fund Advisors now owns 977,086 shares of the company’s stock valued at $61,625,000 after buying an additional 370,993 shares in the last quarter. Palisade Asset Management LLC boosted its stake in shares of AbbVie by 1.3% in the third quarter. Palisade Asset Management LLC now owns 60,005 shares of the company’s stock valued at $3,785,000 after buying an additional 749 shares in the last quarter. Coastline Trust Co boosted its stake in shares of AbbVie by 0.7% in the third quarter. Coastline Trust Co now owns 14,176 shares of the company’s stock valued at $894,000 after buying an additional 105 shares in the last quarter. Finally, Agran Libbie boosted its stake in shares of AbbVie by 2.2% in the third quarter. Agran Libbie now owns 48,183 shares of the company’s stock valued at $3,039,000 after buying an additional 1,050 shares in the last quarter. 66.67% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on ABBV shares. Jefferies Group LLC restated a “buy” rating and issued a $90.00 price objective (up previously from $4.30) on shares of AbbVie in a research report on Tuesday, March 7th. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.88 target price for the company. in a report on Tuesday, January 31st. Goldman Sachs Group Inc upgraded AbbVie from a “buy” rating to a “conviction-buy” rating and increased their target price for the stock from $74.00 to $80.00 in a report on Saturday, March 11th. Deutsche Bank AG increased their target price on AbbVie from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, Societe Generale upgraded AbbVie from a “sell” rating to a “hold” rating in a report on Wednesday, March 22nd. Ten equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Hold” and a consensus price target of $72.18.
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.
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