CHICAGO TRUST Co NA lessened its position in AbbVie Inc (NYSE:ABBV) by 28.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 60,564 shares of the company’s stock after selling 24,437 shares during the quarter. AbbVie comprises 2.3% of CHICAGO TRUST Co NA’s holdings, making the stock its 7th largest position. CHICAGO TRUST Co NA’s holdings in AbbVie were worth $5,728,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. DNB Asset Management AS lifted its position in AbbVie by 0.6% during the third quarter. DNB Asset Management AS now owns 188,185 shares of the company’s stock worth $17,799,000 after buying an additional 1,190 shares in the last quarter. Manning & Napier Group LLC lifted its position in AbbVie by 7.9% during the third quarter. Manning & Napier Group LLC now owns 286,619 shares of the company’s stock worth $27,106,000 after buying an additional 20,976 shares in the last quarter. Lourd Capital LLC purchased a new position in AbbVie during the third quarter worth approximately $898,000. Factory Mutual Insurance Co. lifted its position in AbbVie by 3.1% during the third quarter. Factory Mutual Insurance Co. now owns 281,700 shares of the company’s stock worth $26,642,000 after buying an additional 8,500 shares in the last quarter. Finally, E&G Advisors LP purchased a new position in AbbVie during the third quarter worth approximately $492,000. Institutional investors and hedge funds own 69.43% of the company’s stock.
In other news, EVP Michael Severino sold 50,000 shares of AbbVie stock in a transaction on Friday, August 17th. The stock was sold at an average price of $97.52, for a total value of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.07% of the company’s stock.
ABBV stock opened at $88.79 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of 8.70. The firm has a market cap of $126.68 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 0.79 and a beta of 1.62. AbbVie Inc has a 52-week low of $77.50 and a 52-week high of $125.86.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.13. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a return on equity of 671.60% and a net margin of 23.50%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 earnings per share. As a group, equities research analysts anticipate that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Tuesday, January 15th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, January 14th. This is a boost from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.82%. AbbVie’s payout ratio is presently 68.57%.
A number of equities analysts recently commented on the company. Credit Suisse Group set a $85.00 price objective on AbbVie and gave the stock a “hold” rating in a research report on Sunday, October 14th. BMO Capital Markets reiterated a “sell” rating and set a $78.00 price objective on shares of AbbVie in a research report on Friday, July 27th. Cowen set a $110.00 price objective on AbbVie and gave the stock a “buy” rating in a research report on Friday, July 27th. Piper Jaffray Companies reissued a “hold” rating and set a $100.00 target price on shares of AbbVie in a research note on Friday, July 27th. Finally, Barclays reissued a “hold” rating and set a $90.00 target price on shares of AbbVie in a research note on Sunday, November 4th. Five investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. AbbVie presently has a consensus rating of “Hold” and an average price target of $103.68.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with 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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