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 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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