Hollencrest Capital Management lowered its holdings in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 34.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,199 shares of the company’s stock after selling 3,300 shares during the quarter. Hollencrest Capital Management’s holdings in AbbVie were worth $1,005,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Minot Wealth Management LLC increased its holdings in AbbVie by 1.2% in the 1st quarter. Minot Wealth Management LLC now owns 66,161 shares of the company’s stock worth $10,725,000 after acquiring an additional 800 shares in the last quarter. Marino Stram & Associates LLC increased its holdings in AbbVie by 3.5% in the 4th quarter. Marino Stram & Associates LLC now owns 12,718 shares of the company’s stock worth $1,722,000 after acquiring an additional 431 shares in the last quarter. Oldfather Financial Services LLC purchased a new stake in AbbVie in the 4th quarter worth approximately $250,000. International Assets Investment Management LLC increased its holdings in AbbVie by 237.7% in the 4th quarter. International Assets Investment Management LLC now owns 185,150 shares of the company’s stock worth $1,696,000 after acquiring an additional 130,327 shares in the last quarter. Finally, RB Capital Management LLC increased its holdings in AbbVie by 3.1% in the 1st quarter. RB Capital Management LLC now owns 9,115 shares of the company’s stock worth $1,478,000 after acquiring an additional 273 shares in the last quarter. 67.03% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently issued reports on ABBV. Daiwa Capital Markets lowered shares of AbbVie from an “outperform” rating to a “neutral” rating and set a $150.00 target price for the company. in a report on Friday, May 6th. Wells Fargo & Company raised their price target on AbbVie from $165.00 to $200.00 in a research note on Monday, May 2nd. StockNews.com upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 8th. BMO Capital Markets raised their price target on AbbVie from $161.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. Finally, Citigroup raised their price target on AbbVie from $155.00 to $170.00 in a research note on Tuesday, March 1st. One equity research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $159.75.
NYSE ABBV opened at $152.49 on Wednesday. The company has a market capitalization of $269.47 billion, a P/E ratio of 21.88, a P/E/G ratio of 4.29 and a beta of 0.83. The stock has a 50-day moving average price of $149.51 and a 200-day moving average price of $147.15. AbbVie Inc. has a one year low of $105.56 and a one year high of $175.91. 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 issued its quarterly earnings results on Friday, April 29th. The company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.15 by $0.01. The company had revenue of $13.36 billion during the quarter, compared to the consensus estimate of $13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. AbbVie’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the company earned $2.95 earnings per share. As a group, equities analysts predict that AbbVie Inc. will post 14.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be given a $1.41 dividend. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $5.64 dividend on an annualized basis and a yield of 3.70%. AbbVie’s dividend payout ratio is currently 80.92%.
In other AbbVie news, EVP Henry O. Gosebruch sold 83,960 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $155.00, for a total value of $13,013,800.00. Following the sale, the executive vice president now owns 16,623 shares in the company, valued at $2,576,565. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Michael Severino sold 79,801 shares of the stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $150.90, for a total value of $12,041,970.90. Following the completion of the sale, the insider now owns 152,103 shares in the company, valued at approximately $22,952,342.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 463,761 shares of company stock valued at $70,609,771. 0.08% of the stock is owned by corporate insiders.
About AbbVie: (Get Rating)
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals 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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