Regentatlantic Capital LLC lessened its position in shares of AbbVie Inc. (NYSE:ABBV) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,936 shares of the company’s stock after selling 1,425 shares during the period. Regentatlantic Capital LLC’s holdings in AbbVie were worth $1,444,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the business. Hudock Capital Group LLC grew its holdings in shares of AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the last quarter. Ffcm LLC grew its holdings in shares of AbbVie by 167.2% during the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the last quarter. Bristlecone Advisors LLC bought a new position in shares of AbbVie during the third quarter valued at approximately $113,000. BDO Wealth Advisors LLC bought a new position in shares of AbbVie during the second quarter valued at approximately $115,000. Finally, Hershey Trust Co. bought a new position in shares of AbbVie during the third quarter valued at approximately $139,000. 70.51% of the stock is owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded up $1.30 during trading hours on Tuesday, hitting $113.33. The stock had a trading volume of 2,089,218 shares, compared to its average volume of 6,632,222. The firm has a market capitalization of $180,568.41, a P/E ratio of 34.41, a P/E/G ratio of 1.07 and a beta of 1.52. AbbVie Inc. has a 12 month low of $63.12 and a 12 month high of $125.86. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. The firm had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.20 earnings per share. research analysts predict that AbbVie Inc. will post 7.48 EPS for the current fiscal year.
AbbVie announced that its Board of Directors has approved a stock repurchase program on Thursday, February 15th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.39%. AbbVie’s dividend payout ratio (DPR) is presently 86.32%.
In other news, EVP Carlos Alban sold 83,574 shares of AbbVie stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $114.49, for a total transaction of $9,568,387.26. Following the transaction, the executive vice president now directly owns 133,026 shares of the company’s stock, valued at $15,230,146.74. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO William J. Chase sold 70,928 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the completion of the sale, the chief financial officer now directly owns 203,391 shares in the company, valued at $23,833,357.38. The disclosure for this sale can be found here. In the last three months, insiders sold 211,197 shares of company stock valued at $24,585,575. 0.23% of the stock is currently owned by company insiders.
ABBV has been the subject of a number of recent analyst reports. Credit Suisse Group set a $135.00 target price on AbbVie and gave the stock a “hold” rating in a research report on Monday, January 29th. Societe Generale upped their target price on AbbVie in a research report on Tuesday, November 21st. Leerink Swann downgraded AbbVie from an “outperform” rating to a “market perform” rating and set a $127.00 target price for the company. in a research report on Monday, January 29th. Jefferies Group set a $145.00 price objective on AbbVie and gave the company a “buy” rating in a research report on Monday, February 26th. Finally, BMO Capital Markets set a $84.00 price objective on AbbVie and gave the company a “hold” rating in a research report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $120.96.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection to treat autoimmune diseases; IMBRUVICA, an oral therapy for the treatment of patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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