Beech Hill Advisors Inc. decreased its stake in AbbVie Inc (NYSE:ABBV) by 35.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,047 shares of the company’s stock after selling 29,420 shares during the period. AbbVie accounts for about 2.5% of Beech Hill Advisors Inc.’s holdings, making the stock its 12th biggest position. Beech Hill Advisors Inc.’s holdings in AbbVie were worth $5,130,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hudock Capital Group LLC raised its position in shares of AbbVie by 109.5% in 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 period. Ffcm LLC increased its holdings in AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the period. Bristlecone Advisors LLC bought a new stake in AbbVie during the 3rd quarter worth approximately $113,000. BDO Wealth Advisors LLC bought a new stake in AbbVie during the 2nd quarter worth approximately $115,000. Finally, Hershey Trust Co. bought a new stake in AbbVie during the 3rd quarter worth approximately $139,000. 70.63% of the stock is currently owned by institutional investors.
In other news, insider Laura J. Schumacher sold 25,000 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $117.85, for a total value of $2,946,250.00. Following the completion of the sale, the insider now owns 123,317 shares of the company’s stock, valued at approximately $14,532,908.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert A. Michael sold 992 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. In the last three months, insiders sold 443,747 shares of company stock valued at $47,226,935. Corporate insiders own 0.23% of the company’s stock.
AbbVie Inc (NYSE:ABBV) opened at $118.30 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.28 and a debt-to-equity ratio of 6.07. AbbVie Inc has a 12 month low of $63.12 and a 12 month high of $125.86. The company has a market cap of $187,860.00, a P/E ratio of 21.35, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The business had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the previous year, the company earned $1.20 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. sell-side analysts expect that AbbVie Inc will post 7.48 earnings per share for the current year.
AbbVie announced that its Board of Directors has initiated a share buyback plan on Thursday, February 15th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, April 12th. This is a boost from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s payout ratio is currently 51.26%.
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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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