Lee Danner & Bass Inc. lessened its position in shares of AbbVie Inc (NYSE:ABBV) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,662 shares of the company’s stock after selling 1,222 shares during the period. Lee Danner & Bass Inc.’s holdings in AbbVie were worth $1,214,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Madison Investment Holdings Inc. increased its position in shares of AbbVie by 1.2% during the 1st quarter. Madison Investment Holdings Inc. now owns 10,833 shares of the company’s stock valued at $706,000 after purchasing an additional 128 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its holdings in AbbVie by 3.3% during the 1st quarter. Aberdeen Asset Management PLC UK now owns 841,104 shares of the company’s stock valued at $54,807,000 after acquiring an additional 27,151 shares during the period. Chatham Capital Group Inc. boosted its holdings in AbbVie by 4.6% during the 1st quarter. Chatham Capital Group Inc. now owns 84,314 shares of the company’s stock valued at $5,487,000 after acquiring an additional 3,716 shares during the period. Comerica Securities Inc. boosted its holdings in AbbVie by 832.7% during the 1st quarter. Comerica Securities Inc. now owns 66,443 shares of the company’s stock valued at $4,329,000 after acquiring an additional 59,319 shares during the period. Finally, InterOcean Capital LLC boosted its holdings in AbbVie by 4.1% during the 1st quarter. InterOcean Capital LLC now owns 5,417 shares of the company’s stock valued at $353,000 after acquiring an additional 211 shares during the period. Institutional investors own 69.18% of the company’s stock.
ABBV has been the subject of several analyst reports. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price for the company in a report on Tuesday, October 17th. BidaskClub cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Deutsche Bank increased their price objective on AbbVie to $88.00 and gave the stock a “hold” rating in a report on Thursday, September 28th. Jefferies Group reiterated a “buy” rating and issued a $107.00 price objective (up previously from $94.00) on shares of AbbVie in a report on Friday, September 15th. Finally, Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price objective for the company in a report on Wednesday, December 20th. Seven investment 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. The stock presently has an average rating of “Buy” and an average target price of $100.94.
AbbVie Inc (NYSE ABBV) traded down $0.75 during mid-day trading on Thursday, reaching $98.94. The company had a trading volume of 157,052 shares, compared to its average volume of 4,526,786. AbbVie Inc has a one year low of $59.27 and a one year high of $101.28. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. The company has a market cap of $157,660.00, a price-to-earnings ratio of 24.01, a PEG ratio of 1.20 and a beta of 1.53.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $1.21 EPS. equities research analysts predict that AbbVie Inc will post 5.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.87%. AbbVie’s dividend payout ratio (DPR) is presently 62.14%.
In other news, SVP Timothy J. Richmond sold 87,040 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $98.45, for a total value of $8,569,088.00. Following the transaction, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Laura J. Schumacher sold 145,510 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $96.71, for a total value of $14,072,272.10. The disclosure for this sale can be found here. In the last three months, insiders sold 494,676 shares of company stock valued at $47,237,938. Corporate insiders own 0.23% of the company’s stock.
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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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