Cigna Investments Inc. New decreased its position in AbbVie Inc. (NYSE:ABBV) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,712 shares of the company’s stock after selling 4,677 shares during the quarter. Cigna Investments Inc. New’s holdings in AbbVie were worth $4,475,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in ABBV. Acropolis Investment Management LLC bought a new position in AbbVie during the second quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC bought a new position in AbbVie during the first quarter worth $108,000. Atwood & Palmer Inc. increased its position in AbbVie by 1,333.3% during the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after acquiring an additional 2,000 shares during the period. Tradewinds Capital Management LLC increased its position in AbbVie by 87.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after acquiring an additional 1,057 shares during the period. Finally, Exane Asset Management bought a new position in AbbVie during the second quarter worth $181,000. 68.52% of the stock is currently owned by institutional investors.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,299 shares of company stock worth $2,952,243. 0.23% of the stock is owned by corporate insiders.
Several brokerages have issued reports on ABBV. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a report on Tuesday, October 17th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target on the stock in a report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $100.00 price target (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $107.00 price target (up previously from $94.00) on shares of AbbVie in a report on Friday, September 15th. Eight research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $93.68.
COPYRIGHT VIOLATION WARNING: This news story was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://www.dispatchtribunal.com/2017/11/11/abbvie-inc-abbv-holdings-reduced-by-cigna-investments-inc-new.html.
Shares of AbbVie Inc. (NYSE:ABBV) traded down $0.46 during midday trading on Friday, reaching $95.43. 6,170,100 shares of the company traded hands, compared to its average volume of 6,254,326. The firm has a market cap of $153,081.67, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 1.33 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.25 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a 1-year low of $58.60 and a 1-year high of $98.26.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. research analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 2.98%. AbbVie’s dividend payout ratio is 62.29%.
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.
Receive News & Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with MarketBeat.com's FREE daily email newsletter.