Investors Sell Shares of AbbVie Inc. (ABBV) on Strength on Insider Selling

Traders sold shares of AbbVie Inc. (NYSE:ABBV) on strength during trading hours on Friday following insider selling activity. $21.16 million flowed into the stock on the tick-up and $40.23 million flowed out of the stock on the tick-down, for a money net flow of $19.07 million out of the stock. Of all stocks tracked, AbbVie had the 17th highest net out-flow for the day. AbbVie traded up $0.25 for the day and closed at $94.72Specifically, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Severino sold 25,633 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares in the company, valued at approximately $10,881,964.18. The disclosure for this sale can be found here. Insiders sold 277,125 shares of company stock worth $25,891,756 in the last three months. 0.23% of the stock is currently owned by corporate insiders.

Several equities analysts recently commented on the company. BMO Capital Markets reissued a “hold” rating and issued a $84.00 target price on shares of AbbVie in a report on Tuesday. Societe Generale raised their price objective on AbbVie in a report on Tuesday. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of AbbVie in a report on Monday, October 30th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $94.68.

The firm has a market cap of $150,814.73, a price-to-earnings ratio of 17.79, a PEG ratio of 1.31 and a beta of 1.51. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.

AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the company posted $1.21 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. analysts forecast that AbbVie Inc. will post 5.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued 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 3.00%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ABBV. Grimes & Company Inc. lifted its position in AbbVie by 5.0% in the first quarter. Grimes & Company Inc. now owns 4,243 shares of the company’s stock valued at $276,000 after purchasing an additional 203 shares during the period. Welch Group LLC lifted its position in AbbVie by 2.3% in the first quarter. Welch Group LLC now owns 245,893 shares of the company’s stock valued at $16,022,000 after purchasing an additional 5,413 shares during the period. Eqis Capital Management Inc. lifted its position in AbbVie by 5.4% in the first quarter. Eqis Capital Management Inc. now owns 19,602 shares of the company’s stock valued at $1,277,000 after purchasing an additional 1,002 shares during the period. St. Louis Trust Co lifted its position in AbbVie by 0.7% in the first quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock valued at $221,000 after purchasing an additional 25 shares during the period. Finally, Searle & CO. lifted its position in AbbVie by 22.4% in the first quarter. Searle & CO. now owns 15,843 shares of the company’s stock valued at $1,032,000 after purchasing an additional 2,900 shares during the period. 67.65% of the stock is currently owned by hedge funds and other institutional investors.

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About AbbVie

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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