Dubuque Bank & Trust Co. boosted its holdings in AbbVie Inc (NYSE:ABBV) by 2.6% in the third quarter, HoldingsChannel reports. The firm owned 84,943 shares of the company’s stock after purchasing an additional 2,141 shares during the period. AbbVie makes up about 1.2% of Dubuque Bank & Trust Co.’s investment portfolio, making the stock its 21st biggest holding. Dubuque Bank & Trust Co.’s holdings in AbbVie were worth $8,034,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Cornerstone Wealth Management LLC increased its holdings in AbbVie by 8,774.3% in the second quarter. Cornerstone Wealth Management LLC now owns 1,102,183 shares of the company’s stock worth $11,837,000 after purchasing an additional 1,089,763 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in AbbVie by 10.0% in the second quarter. Riverhead Capital Management LLC now owns 117,611 shares of the company’s stock worth $10,897,000 after purchasing an additional 10,702 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in AbbVie by 43.1% in the second quarter. SeaCrest Wealth Management LLC now owns 34,815 shares of the company’s stock worth $3,226,000 after purchasing an additional 10,483 shares in the last quarter. Bank of Montreal Can increased its holdings in AbbVie by 9.2% in the third quarter. Bank of Montreal Can now owns 5,210,247 shares of the company’s stock worth $492,786,000 after purchasing an additional 438,201 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in AbbVie in the second quarter worth approximately $157,000. Institutional investors and hedge funds own 69.85% of the company’s stock.
Several equities research analysts have recently commented on the company. BMO Capital Markets restated a “sell” rating and set a $78.00 price objective on shares of AbbVie in a report on Wednesday, August 22nd. Wolfe Research assumed coverage on AbbVie in a report on Tuesday, October 23rd. They set an “underperform” rating for the company. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Monday, October 1st. Credit Suisse Group set a $85.00 price objective on AbbVie and gave the company a “hold” rating in a report on Friday, November 2nd. Finally, Barclays restated a “hold” rating and set a $90.00 price objective on shares of AbbVie in a report on Sunday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $103.68.
NYSE ABBV opened at $86.96 on Friday. The company has a market cap of $136.21 billion, a PE ratio of 15.53, a PEG ratio of 0.84 and a beta of 1.68. AbbVie Inc has a 52 week low of $77.50 and a 52 week high of $125.86. The company has a quick ratio of 1.08, a current ratio of 1.20 and a debt-to-equity ratio of 8.70.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.13. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. AbbVie’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, equities analysts anticipate that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Investors of record on Tuesday, January 15th will be given a dividend of $1.07 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Monday, January 14th. This represents a $4.28 annualized dividend and a dividend yield of 4.92%. AbbVie’s payout ratio is presently 68.57%.
In related news, insider Laura J. Schumacher sold 94,140 shares of AbbVie stock in a transaction that occurred on Tuesday, December 4th. The stock was sold at an average price of $93.58, for a total transaction of $8,809,621.20. Following the transaction, the insider now owns 192,398 shares of the company’s stock, valued at $18,004,604.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Henry O. Gosebruch sold 42,450 shares of AbbVie stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total value of $3,824,745.00. Following the transaction, the executive vice president now directly owns 30,350 shares in the company, valued at approximately $2,734,535. The disclosure for this sale can be found here. 0.07% of the stock is owned by insiders.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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