Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of AbbVie Inc. NYSE: ABBV. In a filing disclosed on March 27th, the Representative disclosed that they had bought between $1,001 and $15,000 in AbbVie stock on February 25th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT" account.
Representative Robert Bresnahan, Jr. also recently made the following trade(s):
- Purchased $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 3/7/2025.
- Sold $1,001 - $15,000 in shares of Tesla NASDAQ: TSLA on 3/6/2025.
- Purchased $1,001 - $15,000 in shares of SEA NYSE: SE on 3/5/2025.
- Sold $1,001 - $15,000 in shares of Credo Technology Group NASDAQ: CRDO on 3/4/2025.
- Purchased $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 3/4/2025.
- Purchased $1,001 - $15,000 in shares of Twilio NYSE: TWLO on 3/4/2025.
- Sold $15,001 - $50,000 in shares of Alibaba Group NYSE: BABA on 3/4/2025.
- Purchased $1,001 - $15,000 in shares of Zoom Video Communications NASDAQ: ZM on 3/4/2025.
- Purchased $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 3/3/2025.
- Purchased $1,001 - $15,000 in shares of Snowflake NYSE: SNOW on 3/3/2025.
AbbVie Price Performance
Shares of ABBV traded down $0.62 during trading hours on Tuesday, reaching $208.90. 2,935,020 shares of the company traded hands, compared to its average volume of 6,349,959. The stock has a market capitalization of $369.54 billion, a PE ratio of 87.04, a price-to-earnings-growth ratio of 1.62 and a beta of 0.61. AbbVie Inc. has a fifty-two week low of $153.58 and a fifty-two week high of $218.66. The company has a quick ratio of 0.55, a current ratio of 0.66 and a debt-to-equity ratio of 17.94. The stock has a fifty day simple moving average of $198.27 and a 200 day simple moving average of $189.02.
AbbVie (NYSE:ABBV - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a return on equity of 296.28% and a net margin of 7.59%. During the same quarter last year, the firm earned $2.79 earnings per share. As a group, research analysts predict that AbbVie Inc. will post 12.31 EPS for the current fiscal year.
AbbVie Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 15th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, April 15th. AbbVie's dividend payout ratio (DPR) is presently 273.33%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in ABBV. Norges Bank bought a new position in AbbVie during the fourth quarter worth about $4,459,385,000. Raymond James Financial Inc. acquired a new position in AbbVie in the fourth quarter valued at about $1,190,951,000. FMR LLC raised its position in shares of AbbVie by 32.8% in the 4th quarter. FMR LLC now owns 18,097,375 shares of the company's stock valued at $3,215,903,000 after buying an additional 4,466,971 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in AbbVie by 15.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 27,436,133 shares of the company's stock valued at $4,875,401,000 after purchasing an additional 3,599,336 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of AbbVie by 24.3% during the 4th quarter. Franklin Resources Inc. now owns 17,246,900 shares of the company's stock worth $3,064,773,000 after buying an additional 3,373,156 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company's stock.
Analyst Ratings Changes
Several research firms have recently commented on ABBV. Daiwa Capital Markets downgraded shares of AbbVie from an "outperform" rating to a "neutral" rating and set a $180.00 price target for the company. in a research report on Thursday, December 5th. BMO Capital Markets raised their target price on AbbVie from $208.00 to $215.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Piper Sandler Companies restated an "overweight" rating and set a $220.00 price target on shares of AbbVie in a research report on Tuesday, December 17th. Morgan Stanley upped their price objective on AbbVie from $224.00 to $239.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Bank of America raised their target price on shares of AbbVie from $200.00 to $223.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $211.45.
Get Our Latest Analysis on AbbVie
Insider Transactions at AbbVie
In related news, EVP Timothy J. Richmond sold 29,917 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $202.90, for a total transaction of $6,070,159.30. Following the sale, the executive vice president now owns 44,284 shares in the company, valued at $8,985,223.60. This represents a 40.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin K. Buckbee sold 18,944 shares of AbbVie stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $203.41, for a total transaction of $3,853,399.04. Following the completion of the sale, the senior vice president now directly owns 11,496 shares of the company's stock, valued at approximately $2,338,401.36. This trade represents a 62.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,639 shares of company stock valued at $11,067,025. 0.25% of the stock is currently owned by insiders.
About Representative Bresnahan
Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.
Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election.
Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.
About AbbVie
(
Get Free Report)
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.
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