AbbVie Inc (ABBV) PRES & CHIEF OPERATING OFFICER Robert Michael Sells 68,879 Shares
Robert Michael, President and Chief Operating Officer of AbbVie Inc (NYSE:ABBV), has sold 68,879 shares of the company on February 29, 2024, according to a recent SEC filing. The transaction was executed at an average price of $176.45 per share, resulting in a total value of $12,155,709.55.
AbbVie Inc is a biopharmaceutical company engaged in the discovery, development, manufacture, and sale of a broad line of proprietary 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; as well as other serious health conditions.
Over the past year, Robert Michael has sold a total of 68,879 shares of AbbVie Inc and has not made any purchases of the stock. The insider's recent sale represents a significant transaction and is part of a broader trend observed within the company.
The insider transaction history for AbbVie Inc shows a pattern of selling activity. Over the past year, there have been no insider buys and 14 insider sells, indicating a possible consensus among insiders about the stock's prospects.
On the valuation front, AbbVie Inc's shares were trading at $176.45 on the day of the insider's sale, giving the company a market capitalization of $316.04 billion. The price-earnings ratio stands at 64.49, which is above both the industry median of 22.63 and the company's historical median price-earnings ratio.
According to the GuruFocus Value chart, with a current price of $176.45 and a GF Value of $137.63, AbbVie Inc's price-to-GF-Value ratio is 1.28, suggesting that the stock is modestly overvalued.
The GF Value is calculated based on historical trading multiples, a GuruFocus adjustment factor, and future business performance estimates provided by Morningstar analysts.
The insider trend image above reflects the recent selling activity by insiders at AbbVie Inc, which may be of interest to investors monitoring insider behaviors.
The GF Value image provides a visual representation of the stock's valuation, indicating that AbbVie Inc is currently trading above its intrinsic value as estimated by GuruFocus.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
