Carlos Alban Sells 43,000 Shares of AbbVie Inc (ABBV) Stock

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.

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

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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.

12 Month Chart for NYSE:ABBV

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