First American Trust FSB lessened its holdings in AbbVie Inc (NYSE:ABBV) by 28.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,930 shares of the company’s stock after selling 11,725 shares during the period. First American Trust FSB’s holdings in AbbVie were worth $2,831,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. First Mercantile Trust Co. acquired a new position in AbbVie in the second quarter worth about $150,000. MUFG Securities EMEA plc acquired a new stake in shares of AbbVie during the second quarter worth approximately $157,000. Rainier Group Investment Advisory LLC acquired a new stake in shares of AbbVie during the first quarter worth approximately $161,000. Clearwater Capital Advisors LLC acquired a new stake in shares of AbbVie during the first quarter worth approximately $195,000. Finally, S. R. Schill & Associates acquired a new stake in shares of AbbVie during the second quarter worth approximately $200,000. 69.37% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Michael Severino sold 50,000 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is owned by corporate insiders.
ABBV opened at $79.56 on Friday. AbbVie Inc has a one year low of $77.50 and a one year high of $125.86. The company has a current ratio of 0.80, a quick ratio of 0.71 and a debt-to-equity ratio of 8.70. The company has a market cap of $120.48 billion, a PE ratio of 14.21, a P/E/G ratio of 0.79 and a beta of 1.62.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, November 2nd. The company reported $2.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.01 by $0.13. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. AbbVie’s revenue was up 17.7% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc will post 7.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Monday, October 15th will be paid a dividend of $0.96 per share. The ex-dividend date is Friday, October 12th. This represents a $3.84 annualized dividend and a dividend yield of 4.83%. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.
Several analysts have recently weighed in on the stock. Credit Suisse Group set a $85.00 price objective on shares of AbbVie and gave the stock a “hold” rating in a report on Friday. Wolfe Research assumed coverage on shares of AbbVie in a report on Tuesday, October 23rd. They set an “underperform” rating for the company. SunTrust Banks dropped their price objective on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating for the company in a report on Monday, October 22nd. ValuEngine lowered shares of AbbVie from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Finally, Bank of America dropped their price objective on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, October 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 issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $105.68.
AbbVie Company Profile
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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