Investment Management of Virginia LLC reduced its holdings in AbbVie Inc (NYSE:ABBV) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,081 shares of the company’s stock after selling 1,868 shares during the period. AbbVie comprises 1.9% of Investment Management of Virginia LLC’s holdings, making the stock its 11th largest position. Investment Management of Virginia LLC’s holdings in AbbVie were worth $8,183,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Savant Capital LLC grew its holdings in AbbVie by 1.3% in the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after purchasing an additional 793 shares during the period. Princeton Capital Management Inc. acquired a new stake in AbbVie in the second quarter valued at approximately $1,394,000. Palisade Asset Management LLC grew its holdings in AbbVie by 17.9% in the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after purchasing an additional 10,381 shares during the period. Beaton Management Co. Inc. acquired a new stake in shares of AbbVie in the second quarter worth approximately $528,000. Finally, Greatmark Investment Partners Inc. boosted its stake in shares of AbbVie by 3.7% in the second quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock worth $2,551,000 after acquiring an additional 1,242 shares during the last quarter. 69.18% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. UBS Group reaffirmed a “neutral” rating on shares of AbbVie in a research note on Friday, October 13th. Jefferies Group lifted their price target on AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, October 16th. BMO Capital Markets reaffirmed a “hold” rating and issued a $84.00 price target on shares of AbbVie in a research note on Tuesday, November 21st. Piper Jaffray Companies lifted their price target on AbbVie to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. Finally, Leerink Swann lowered their price target on AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $100.94.
AbbVie Inc (NYSE:ABBV) opened at $100.34 on Friday. The firm has a market capitalization of $160,185.78, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.19 and a beta of 1.52. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie Inc has a 12 month low of $59.27 and a 12 month high of $101.28.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 earnings per share. equities analysts forecast that AbbVie Inc will post 5.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.83%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is 69.10%.
In other AbbVie news, SVP Timothy J. Richmond sold 87,040 shares of the business’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 transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at $11,136,467.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock worth $47,237,938 in the last three months. 0.23% of the stock is currently owned by corporate insiders.
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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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