Regentatlantic Capital LLC trimmed its holdings 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 (SEC). The fund 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 quarter.
Several other institutional investors and hedge funds have also bought and sold shares of ABBV. Marshall Wace North America L.P. grew its holdings in AbbVie by 510.9% during the second quarter. Marshall Wace North America L.P. now owns 111,274 shares of the company’s stock valued at $8,123,000 after purchasing an additional 93,060 shares during the period. Hourglass Capital LLC grew its holdings in AbbVie by 0.8% during the second quarter. Hourglass Capital LLC now owns 86,930 shares of the company’s stock valued at $6,303,000 after purchasing an additional 650 shares during the period. Wayne Hummer Investments L.L.C. grew its holdings in AbbVie by 0.8% during the second quarter. Wayne Hummer Investments L.L.C. now owns 29,528 shares of the company’s stock valued at $2,141,000 after purchasing an additional 235 shares during the period. Montag A & Associates Inc. grew its holdings in AbbVie by 0.4% during the second quarter. Montag A & Associates Inc. now owns 70,349 shares of the company’s stock valued at $5,101,000 after purchasing an additional 253 shares during the period. Finally, Pzena Investment Management LLC grew its holdings in AbbVie by 23.2% during the second quarter. Pzena Investment Management LLC now owns 5,137 shares of the company’s stock valued at $372,000 after purchasing an additional 967 shares during the period. 70.63% of the stock is owned by institutional investors and hedge funds.
In related news, insider Laura J. Schumacher sold 145,510 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $96.71, for a total transaction of $14,072,272.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the transaction, the senior vice president now owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders have sold 443,747 shares of company stock valued at $47,226,935 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.
AbbVie Inc (NYSE ABBV) opened at $118.30 on Tuesday. The firm has a market cap of $187,860.00, a P/E ratio of 21.35, a PEG ratio of 1.13 and a beta of 1.52. AbbVie Inc has a 1-year low of $63.12 and a 1-year high of $125.86. 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 (NYSE:ABBV) last released its quarterly earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $7.74 billion during the quarter, compared to analysts’ expectations of $7.53 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. 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 EPS for the current fiscal year.
AbbVie declared that its Board of Directors has approved a stock buyback program on Thursday, February 15th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Friday, April 13th will be issued a dividend of $0.96 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. This represents a $3.84 annualized dividend and a yield of 3.25%. AbbVie’s dividend payout ratio is presently 51.26%.
COPYRIGHT VIOLATION NOTICE: “Regentatlantic Capital LLC Sells 1,425 Shares of AbbVie Inc (ABBV)” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at https://www.americanbankingnews.com/2018/03/13/regentatlantic-capital-llc-sells-1425-shares-of-abbvie-inc-abbv.html.
AbbVie Company Profile
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.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.