Alaska State Department of Revenue decreased its holdings in AbbVie Inc. (NYSE: ABBV – Get Rating) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 306,881 shares of the company stock after selling 7,731 shares during the period. AbbVie accounts for about 0.5% of Alaska State Department of Revenue’s holdings, making the stock its 28th biggest position. Alaska State Department of Revenue’s holdings in AbbVie were worth $ 49,747,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Sanders Morris Harris LLC raised its stake in shares of AbbVie by 0.3% during the 1st quarter. Sanders Morris Harris LLC now owns 23,158 shares of the company stock valued at $ 3,755,000 after purchasing an additional 62 shares during the period. Modus Advisors LLC grew its holdings in AbbVie by 0.3% during the 1st quarter. Modus Advisors LLC now owns 19,907 shares of the company stock valued at $ 3,227,000 after buying an additional 69 shares in the last quarter. McAdam LLC increased its position in shares of AbbVie by 0.5% during the first quarter. McAdam LLC now owns 15,537 shares of the company stock valued at $ 2,519,000 after buying an additional 70 shares during the period. Charter Oak Capital Management LLC boosted its position in shares of AbbVie by 1.1% in the fourth quarter. Charter Oak Capital Management LLC now owns 6,527 shares of the company stock valued at $ 884,000 after acquiring an additional 73 shares during the period. Finally, First Farmers & Merchants Bank Trust grew its stake in AbbVie by 0.6% during the first quarter. First Farmers & Merchants Bank Trust now owns 13,021 shares of the company stock valued at $ 2,111,000 after acquiring an additional 73 shares in the last quarter. 67.03% of the stock is currently owned by institutional investors.
In other AbbVie news, Vice Chairman Michael Severino sold 79,801 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $ 150.90, for a total value of $ 12,041,970.90. Following the sale, the insider now owns 152,103 shares of the company stock, valued at approximately $ 22,952,342.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Henry O. Gosebruch sold 83,960 shares of the company stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $ 155.00, for a total transaction of $ 13,013,800.00. Following the transaction, the executive vice president now directly owns 16,623 shares of the company stock, valued at $ 2,576,565. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 463,761 shares of company stock worth $ 70,609,771. 0.08% of the stock is owned by corporate insiders.
Shares of ABBV opened at $ 152.34 on Friday. AbbVie Inc. has a fifty-two week low of $ 105.56 and a fifty-two week high of $ 175.91. The firm has a market cap of $ 269.20 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 4.21 and a beta of 0.83. The firm has a 50 day moving average price of $ 149.71 and a 200-day moving average price of $ 146.58. The company has a debt-to-equity ratio of 3.89, a quick ratio of 0.71 and a current ratio of 0.82.
AbbVie (NYSE: ABBV – Get Rating) last posted its quarterly earnings results on Friday, April 29th. The company reported $ 3.16 earnings per share for the quarter, topping the consensus estimate of $ 3.15 by $ 0.01. AbbVie had a net margin of 22.00% and a return on equity of 159.31%. The business had revenue of $ 13.36 billion during the quarter, compared to the estimate consensus of $ 13.61 billion. During the same period in the previous year, the firm posted $ 2.95 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that AbbVie Inc. will post 14.02 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be issued a dividend of $ 1.41 per share. This represents a $ 5.64 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, July 14th. AbbVie’s dividend payout ratio is presently 80.92%.
ABBV has been the subject of several analyst reports. StockNews.com raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Friday, April 8th. UBS Group cut AbbVie from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $ 129.00 to $ 147.00 in a research report on Monday, February 28th. BMO Capital Markets upped their target price on AbbVie from $ 161.00 to $ 174.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Wells Fargo & Company lifted their price target on AbbVie from $ 165.00 to $ 200.00 in a research report on Monday, May 2nd. Finally, Daiwa Capital Markets cut shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $ 150.00 price objective on the stock. in a research report on Friday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $ 159.75.
About AbbVie: (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet’s diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), and VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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