Duncker Streett & Co. Inc. cut its holdings in AbbVie Inc (NYSE:ABBV) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,869 shares of the company’s stock after selling 1,194 shares during the quarter. AbbVie comprises about 1.7% of Duncker Streett & Co. Inc.’s investment portfolio, making the stock its 4th biggest holding. Duncker Streett & Co. Inc.’s holdings in AbbVie were worth $5,675,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Bristlecone Advisors LLC purchased a new position in AbbVie in the 3rd quarter worth about $113,000. Acropolis Investment Management LLC purchased a new position in AbbVie in the 2nd quarter worth about $106,000. Ffcm LLC increased its stake in AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares in the last quarter. Hudock Capital Group LLC increased its stake in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares in the last quarter. Finally, Hershey Trust Co. purchased a new position in AbbVie in the 3rd quarter worth about $139,000. Hedge funds and other institutional investors own 69.18% of the company’s stock.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction 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 business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the sale, the senior vice president now 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 90 days, insiders sold 494,676 shares of company stock valued at $47,237,938. Corporate insiders own 0.23% of the company’s stock.
A number of equities analysts recently weighed in on the company. Leerink Swann set a $106.00 price target on AbbVie and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Argus lifted their target price on AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, September 29th. UBS Group cut AbbVie from a “buy” rating to a “neutral” rating and lifted their target price for the company from $79.00 to $92.00 in a research note on Monday, September 25th. BMO Capital Markets set a $84.00 target price on AbbVie and gave the company a “hold” rating in a research note on Thursday. Finally, Jefferies Group reaffirmed a “buy” rating and set a $107.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $100.94.
Shares of AbbVie Inc (NYSE ABBV) opened at $100.34 on Friday. The company has a market capitalization of $159,950.00, a P/E ratio of 24.35, a P/E/G ratio of 1.18 and a beta of 1.53. AbbVie Inc has a 12 month low of $59.27 and a 12 month high of $101.28. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. research analysts expect that AbbVie Inc will post 5.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s payout ratio is 68.93%.
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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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