Butensky & Cohen Financial Security Inc. reduced its stake in shares of AbbVie Inc (NYSE:ABBV) by 17.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,443 shares of the company’s stock after selling 5,150 shares during the period. AbbVie accounts for about 1.9% of Butensky & Cohen Financial Security Inc.’s holdings, making the stock its 12th biggest position. Butensky & Cohen Financial Security Inc.’s holdings in AbbVie were worth $2,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the stock. Acropolis Investment Management LLC acquired a new position in AbbVie in the 2nd quarter valued at $106,000. Ffcm LLC raised its holdings in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after acquiring an additional 963 shares during the last quarter. Hudock Capital Group LLC raised its holdings in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in AbbVie in the 2nd quarter valued at $115,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in AbbVie by 1,172.6% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,227 shares of the company’s stock valued at $161,000 after acquiring an additional 2,052 shares during the last quarter. Hedge funds and other institutional investors own 69.18% of the company’s stock.
Shares of AbbVie Inc (NYSE:ABBV) traded up $1.07 during midday trading on Friday, hitting $100.34. 4,372,638 shares of the stock traded hands, compared to its average volume of 4,460,000. AbbVie Inc has a one year low of $59.27 and a one year high of $101.28. The stock has a market cap of $159,950.00, a PE ratio of 24.35, a PEG ratio of 1.18 and a beta of 1.53. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the company earned $1.21 EPS. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. sell-side analysts forecast that AbbVie Inc will post 5.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.83%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio is 68.93%.
In related news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is owned by corporate insiders.
Several research analysts have weighed in on the company. BMO Capital Markets set a $84.00 price target on AbbVie and gave the company a “hold” rating in a report on Thursday. Vetr downgraded AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 price target for the company. in a report on Monday, January 8th. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Jefferies Group boosted their price target on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of AbbVie in a report on Tuesday, January 2nd. Seven investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $100.94.
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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