Eastern Bank lessened its stake in AbbVie Inc (NYSE:ABBV) by 18.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 11,851 shares of the company’s stock after selling 2,653 shares during the period. Eastern Bank’s holdings in AbbVie were worth $898,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of AbbVie by 1.3% during the 3rd quarter. Brighton Jones LLC now owns 9,986 shares of the company’s stock worth $756,000 after purchasing an additional 131 shares during the last quarter. Private Ocean LLC lifted its position in AbbVie by 3.8% in the third quarter. Private Ocean LLC now owns 3,796 shares of the company’s stock valued at $288,000 after acquiring an additional 139 shares during the last quarter. Pure Financial Advisors Inc. lifted its position in AbbVie by 1.2% in the third quarter. Pure Financial Advisors Inc. now owns 11,846 shares of the company’s stock valued at $897,000 after acquiring an additional 142 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO lifted its position in AbbVie by 0.3% in the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock valued at $3,210,000 after acquiring an additional 147 shares during the last quarter. Finally, Beacon Financial Group lifted its position in AbbVie by 1.5% in the third quarter. Beacon Financial Group now owns 10,164 shares of the company’s stock valued at $761,000 after acquiring an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 68.38% of the company’s stock.
In other AbbVie news, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were bought at an average cost of $70.42 per share, for a total transaction of $1,760,500.00. Following the completion of the purchase, the insider now owns 164,838 shares in the company, valued at approximately $11,607,891.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy J. Richmond sold 15,515 shares of AbbVie stock in a transaction on Friday, September 27th. The shares were sold at an average price of $75.02, for a total transaction of $1,163,935.30. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 88,077 shares of company stock worth $4,401,551. 0.08% of the stock is currently owned by company insiders.
NYSE ABBV traded up $3.21 during trading on Friday, reaching $85.22. The company’s stock had a trading volume of 8,363,506 shares, compared to its average volume of 7,526,836. The firm has a market cap of $121.00 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 2.04 and a beta of 0.98. AbbVie Inc has a twelve month low of $62.66 and a twelve month high of $94.98. The business’s fifty day moving average price is $76.02 and its 200-day moving average price is $73.45.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, November 1st. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.04. The company had revenue of $8.48 billion for the quarter, compared to analyst estimates of $8.37 billion. AbbVie had a net margin of 9.90% and a negative return on equity of 155.71%. AbbVie’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.14 earnings per share. On average, equities analysts predict that AbbVie Inc will post 8.93 earnings per share for the current fiscal year.
The firm also recently disclosed a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s dividend payout ratio is presently 54.11%.
A number of equities research analysts recently weighed in on the stock. Piper Jaffray Companies boosted their price target on shares of AbbVie from $81.00 to $90.00 in a research report on Friday, November 1st. UBS Group raised shares of AbbVie from a “neutral” rating to a “buy” rating and reduced their price target for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. Citigroup raised shares of AbbVie from a “neutral” rating to a “buy” rating and boosted their price target for the company from $87.00 to $90.00 in a research report on Thursday, September 26th. TheStreet cut shares of AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Finally, Cowen set a $90.00 price target on shares of AbbVie and gave the company a “buy” rating in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $84.88.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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