Wheatland Advisors Inc. reduced its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 7,530 shares of the company’s stock after selling 21 shares during the period. Wheatland Advisors Inc.’s holdings in AbbVie were worth $491,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Tyers Asset Management LLC acquired a new stake in AbbVie during the fourth quarter valued at about $1,079,000. Parallel Advisors LLC purchased a new stake in AbbVie during the fourth quarter worth $914,000. Chilton Capital Management LLC raised its stake in AbbVie by 39.1% in the fourth quarter. Chilton Capital Management LLC now owns 77,743 shares of the company’s stock worth $4,868,000 after buying an additional 21,833 shares in the last quarter. Folger Hill Asset Management LP purchased a new stake in AbbVie during the fourth quarter worth $274,000. Finally, Cantab Capital Partners LLP raised its stake in AbbVie by 12.2% in the fourth quarter. Cantab Capital Partners LLP now owns 9,246 shares of the company’s stock worth $579,000 after buying an additional 1,003 shares in the last quarter. Institutional investors and hedge funds own 67.69% of the company’s stock.
Shares of AbbVie Inc. (ABBV) traded up 0.11% on Wednesday, hitting $70.42. 4,751,633 shares of the stock traded hands. The company has a market cap of $112.26 billion, a PE ratio of 17.32 and a beta of 1.50. The stock has a 50 day moving average of $71.93 and a 200 day moving average of $66.99. AbbVie Inc. has a one year low of $55.06 and a one year high of $75.04.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.26 EPS. Equities analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $2.56 annualized dividend and a dividend yield of 3.64%. AbbVie’s payout ratio is currently 62.90%.
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A number of equities analysts recently issued reports on ABBV shares. Evercore ISI started coverage on shares of AbbVie in a research note on Wednesday. They issued an “outperform” rating for the company. BidaskClub downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 price target on shares of AbbVie in a research note on Thursday, August 3rd. Cowen and Company set a $70.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Sunday, July 30th. Finally, Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price for the company in a research note on Wednesday, July 26th. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Buy” and an average price target of $74.66.
In related news, CFO William J. Chase sold 38,300 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $65.35, for a total value of $2,502,905.00. Following the sale, the chief financial officer now directly owns 209,043 shares in the company, valued at approximately $13,660,960.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Richard A. Gonzalez sold 71,235 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $65.49, for a total transaction of $4,665,180.15. Following the completion of the sale, the chairman now owns 349,462 shares in the company, valued at $22,886,266.38. The disclosure for this sale can be found here. Insiders have sold a total of 600,026 shares of company stock worth $41,852,724 over the last 90 days. Insiders own 0.23% of the company’s stock.
AbbVie Company Profile
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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