Selway Asset Management reduced its holdings in shares of AbbVie Inc (NYSE:ABBV) by 23.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,175 shares of the company’s stock after selling 4,300 shares during the period. Selway Asset Management’s holdings in AbbVie were worth $1,341,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. G&S Capital LLC boosted its stake in shares of AbbVie by 2,963.8% during the third quarter. G&S Capital LLC now owns 37,103 shares of the company’s stock valued at $3,509,000 after purchasing an additional 35,892 shares during the period. Parsec Financial Management Inc. boosted its stake in shares of AbbVie by 12.0% during the third quarter. Parsec Financial Management Inc. now owns 6,765 shares of the company’s stock valued at $640,000 after purchasing an additional 725 shares during the period. S. R. Schill & Associates boosted its stake in shares of AbbVie by 34.7% during the third quarter. S. R. Schill & Associates now owns 2,914 shares of the company’s stock valued at $276,000 after purchasing an additional 750 shares during the period. Signature Wealth Management Group boosted its stake in shares of AbbVie by 6.0% during the third quarter. Signature Wealth Management Group now owns 31,599 shares of the company’s stock valued at $2,571,000 after purchasing an additional 1,795 shares during the period. Finally, Ballentine Partners LLC boosted its stake in shares of AbbVie by 9.9% during the third quarter. Ballentine Partners LLC now owns 8,525 shares of the company’s stock valued at $806,000 after purchasing an additional 770 shares during the period. 69.85% of the stock is owned by hedge funds and other institutional investors.
Shares of AbbVie stock opened at $86.96 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.20 and a debt-to-equity ratio of 8.70. The firm has a market cap of $135.88 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 0.84 and a beta of 1.68. AbbVie Inc has a 12 month low of $77.50 and a 12 month high of $125.86.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, November 2nd. The company reported $2.14 EPS for the quarter, beating the consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.23 billion. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The company’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 earnings per share. Sell-side analysts anticipate that AbbVie Inc will post 7.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, January 14th. This represents a $4.28 annualized dividend and a yield of 4.92%. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.
ABBV has been the subject of a number of analyst reports. SunTrust Banks dropped their price objective on AbbVie from $157.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Credit Suisse Group set a $85.00 price target on AbbVie and gave the stock a “sell” rating in a research note on Saturday, October 20th. Wolfe Research initiated coverage on AbbVie in a research note on Tuesday, October 23rd. They issued an “underperform” rating for the company. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Monday, October 1st. Finally, Bank of America dropped their price target on AbbVie from $107.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $103.68.
In other AbbVie news, insider Laura J. Schumacher sold 94,140 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $93.58, for a total transaction of $8,809,621.20. Following the completion of the transaction, the insider now owns 192,398 shares of the company’s stock, valued at $18,004,604.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henry O. Gosebruch sold 42,450 shares of the firm’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $90.10, for a total value of $3,824,745.00. Following the transaction, the executive vice president now directly owns 30,350 shares of the company’s stock, valued at approximately $2,734,535. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating 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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