Tdam USA Inc. trimmed its stake in shares of AbbVie Inc (NYSE:ABBV) by 1.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 246,947 shares of the company’s stock after selling 3,739 shares during the quarter. AbbVie comprises about 1.5% of Tdam USA Inc.’s portfolio, making the stock its 11th biggest holding. Tdam USA Inc.’s holdings in AbbVie were worth $24,065,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of AbbVie during the 3rd quarter worth $112,000. Mainstay Capital Management LLC ADV raised its holdings in shares of AbbVie by 6,123.5% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock worth $143,000 after buying an additional 12,247 shares in the last quarter. First Mercantile Trust Co. acquired a new position in shares of AbbVie during the 2nd quarter worth $150,000. MUFG Securities EMEA plc acquired a new position in shares of AbbVie during the 2nd quarter worth $157,000. Finally, Kiley Juergens Wealth Management LLC raised its holdings in shares of AbbVie by 69.3% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock worth $166,000 after buying an additional 721 shares in the last quarter. Hedge funds and other institutional investors own 69.89% of the company’s stock.
In other AbbVie news, insider Laura J. Schumacher sold 94,140 shares of the company’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $93.58, for a total value of $8,809,621.20. Following the sale, the insider now owns 192,398 shares in the company, valued at approximately $18,004,604.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Henry O. Gosebruch sold 42,450 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 30,350 shares in the company, valued at approximately $2,734,535. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.
A number of equities analysts have recently commented on ABBV shares. BMO Capital Markets reissued a “sell” rating and set a $78.00 price target on shares of AbbVie in a report on Wednesday, August 22nd. Bank of America upped their target price on AbbVie from $105.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a report on Monday, October 1st. Credit Suisse Group set a $85.00 target price on AbbVie and gave the stock a “hold” rating in a report on Sunday, October 14th. Finally, ValuEngine cut AbbVie from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $103.68.
Shares of ABBV opened at $88.60 on Thursday. AbbVie Inc has a 12-month low of $77.50 and a 12-month high of $125.86. 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 stock has a market capitalization of $132.63 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 0.82 and a beta of 1.68.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.13. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The business had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Monday, January 14th. This is a positive change from AbbVie’s previous quarterly dividend of $0.96. AbbVie’s payout ratio is 68.57%.
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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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