Pennsylvania Trust Co Has $13.19 Million Stock Holdings in AbbVie Inc (NYSE:ABBV)

Pennsylvania Trust Co trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 174,186 shares of the company’s stock after selling 2,790 shares during the period. Pennsylvania Trust Co’s holdings in AbbVie were worth $13,189,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Lavaca Capital LLC lifted its stake in AbbVie by 69.2% in the 2nd quarter. Lavaca Capital LLC now owns 49,404 shares of the company’s stock valued at $3,593,000 after purchasing an additional 20,213 shares during the last quarter. Horseman Capital Management Ltd lifted its stake in AbbVie by 45.5% in the 2nd quarter. Horseman Capital Management Ltd now owns 16,000 shares of the company’s stock valued at $1,164,000 after purchasing an additional 5,000 shares during the last quarter. Ironwood Investment Counsel LLC lifted its stake in AbbVie by 7.9% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 9,171 shares of the company’s stock valued at $666,000 after purchasing an additional 675 shares during the last quarter. Cedar Wealth Management LLC acquired a new stake in AbbVie in the 2nd quarter valued at about $44,000. Finally, Ballentine Partners LLC lifted its stake in AbbVie by 52.1% in the 2nd quarter. Ballentine Partners LLC now owns 12,168 shares of the company’s stock valued at $886,000 after purchasing an additional 4,169 shares during the last quarter. Institutional investors own 68.14% of the company’s stock.

In related news, EVP Henry O. Gosebruch acquired 30,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was purchased at an average cost of $67.28 per share, for a total transaction of $2,018,400.00. Following the completion of the transaction, the executive vice president now directly owns 75,763 shares of the company’s stock, valued at approximately $5,097,334.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Nicholas Donoghoe bought 7,525 shares of the stock in a transaction dated Thursday, August 29th. The shares were acquired at an average cost of $66.19 per share, for a total transaction of $498,079.75. Following the completion of the acquisition, the senior vice president now directly owns 13,090 shares of the company’s stock, valued at approximately $866,427.10. The disclosure for this purchase can be found here. Insiders have acquired 183,077 shares of company stock valued at $10,705,751 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Several equities research analysts recently issued reports on the stock. TheStreet downgraded shares of AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Piper Jaffray Companies raised their target price on shares of AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Cowen set a $90.00 target price on shares of AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Citigroup upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and raised their target price for the company from $87.00 to $90.00 in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $89.97.

ABBV stock traded down $0.23 during mid-day trading on Wednesday, hitting $73.30. 5,852,403 shares of the company were exchanged, compared to its average volume of 8,000,455. The business has a 50 day simple moving average of $70.00 and a 200-day simple moving average of $73.97. The stock has a market capitalization of $110.38 billion, a PE ratio of 9.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $95.39.

AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.05. The firm had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the business posted $2.00 earnings per share. Sell-side analysts predict that AbbVie Inc will post 8.9 earnings per share for the current year.

The business also recently disclosed a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.

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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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