Stockman Wealth Management Inc. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 14.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,475 shares of the company’s stock after selling 1,216 shares during the period. Stockman Wealth Management Inc.’s holdings in AbbVie were worth $487,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Regentatlantic Capital LLC grew its position in AbbVie by 5.4% in the 1st quarter. Regentatlantic Capital LLC now owns 16,371 shares of the company’s stock worth $1,067,000 after purchasing an additional 834 shares during the period. Marshwinds Advisory Co. grew its position in AbbVie by 21.1% in the 1st quarter. Marshwinds Advisory Co. now owns 33,576 shares of the company’s stock worth $2,188,000 after purchasing an additional 5,852 shares during the period. CrestPoint Capital Management LLC grew its position in AbbVie by 18.6% in the 1st quarter. CrestPoint Capital Management LLC now owns 7,000 shares of the company’s stock worth $456,000 after purchasing an additional 1,100 shares during the period. First PREMIER Bank grew its position in AbbVie by 53.8% in the 1st quarter. First PREMIER Bank now owns 3,000 shares of the company’s stock worth $196,000 after purchasing an additional 1,050 shares during the period. Finally, Capstone Asset Management Co. grew its position in AbbVie by 2.4% in the 1st quarter. Capstone Asset Management Co. now owns 217,982 shares of the company’s stock worth $14,204,000 after purchasing an additional 5,209 shares during the period. 68.25% of the stock is owned by institutional investors.
In related news, insider Henry O. Gosebruch sold 18,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the transaction, the insider now directly owns 96,074 shares in the company, valued at $6,733,826.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard A. Gonzalez sold 65,861 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.00, for a total value of $4,676,131.00. Following the transaction, the chief executive officer now owns 342,353 shares in the company, valued at $24,307,063. The disclosure for this sale can be found here. Insiders have sold 373,191 shares of company stock worth $26,598,305 over the last 90 days. 0.23% of the stock is currently owned by company insiders.
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Several brokerages have recently weighed in on ABBV. Jefferies Group LLC reiterated a “buy” rating and set a $107.00 price target (up previously from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Piper Jaffray Companies reiterated a “buy” rating and set a $100.00 price target on shares of AbbVie in a research note on Friday, September 15th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $95.00 price target on shares of AbbVie in a research note on Wednesday, September 13th. Leerink Swann restated a “market perform” rating on shares of AbbVie in a research note on Tuesday, September 12th. Finally, Cowen and Company restated a “hold” rating and set a $95.00 target price (up previously from $70.00) on shares of AbbVie in a research note on Monday, September 11th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $82.38.
AbbVie Inc. (NYSE:ABBV) opened at 87.48 on Friday. The firm has a 50-day moving average of $75.76 and a 200-day moving average of $69.87. The company has a market capitalization of $139.45 billion, a P/E ratio of 21.52 and a beta of 1.48. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $89.69.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the company earned $1.26 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 62.90%.
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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