Kevin K. Buckbee Sells 1,800 Shares of AbbVie Inc. (NYSE:ABBV) Stock


Kevin K. Buckbee Sells 1,800 Shares of AbbVie Inc. (NYSE:ABBV) Stock

AbbVie Inc. (NYSE:ABBV - Get Free Report) SVP Kevin K. Buckbee sold 1,800 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $172.24, for a total value of $310,032.00. Following the completion of the sale, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. This represents a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of ABBV stock traded down $2.36 on Wednesday, hitting $173.02. 5,467,299 shares of the stock traded hands, compared to its average volume of 5,552,371. The firm has a market cap of $305.75 billion, a price-to-earnings ratio of 60.08, a PEG ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $183.83 and a two-hundred day simple moving average of $183.39. AbbVie Inc. has a 52 week low of $151.29 and a 52 week high of $207.32.

AbbVie (NYSE:ABBV - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $3.00 EPS for the quarter, beating the consensus estimate of $2.92 by $0.08. The business had revenue of $14.46 billion for the quarter, compared to the consensus estimate of $14.28 billion. AbbVie had a return on equity of 244.01% and a net margin of 9.22%. The business's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.95 earnings per share. As a group, equities research analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a dividend of $1.64 per share. This is a positive change from AbbVie's previous quarterly dividend of $1.55. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.79%. AbbVie's dividend payout ratio is currently 227.78%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fairway Wealth LLC purchased a new position in shares of AbbVie in the second quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in shares of AbbVie in the 2nd quarter worth about $27,000. Groupama Asset Managment raised its position in shares of AbbVie by 40.3% during the 3rd quarter. Groupama Asset Managment now owns 135,749 shares of the company's stock valued at $27,000 after buying an additional 38,974 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie in the third quarter worth about $28,000. Finally, Quest Partners LLC increased its stake in AbbVie by 4,140.0% during the second quarter. Quest Partners LLC now owns 212 shares of the company's stock worth $36,000 after acquiring an additional 207 shares during the last quarter. 70.23% of the stock is currently owned by institutional investors.

ABBV has been the subject of a number of recent analyst reports. Leerink Partnrs upgraded shares of AbbVie from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. BMO Capital Markets reduced their price objective on AbbVie from $228.00 to $208.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. JPMorgan Chase & Co. lowered their target price on shares of AbbVie from $210.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their price target on shares of AbbVie to $195.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley decreased their price objective on shares of AbbVie from $231.00 to $224.00 and set an "overweight" rating for the company in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $205.70.

Read Our Latest Report on ABBV

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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