Reuter James Wealth Management LLC lowered its stake in shares of AbbVie Inc. (NYSE: ABBV – Get Rating) by 9.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,015 shares of the company stock after selling 1,595 shares during the quarter. AbbVie comprises about 1.0% of Reuter James Wealth Management LLC’s holdings, making the stock its 22nd largest position. Reuter James Wealth Management LLC’s holdings in AbbVie were worth $ 2,434,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Castle Financial & Retirement Planning Associates Inc. purchased a new position in shares of AbbVie during the fourth quarter worth about $ 25,000. Intelligent Financial Strategies purchased a new position in shares of AbbVie during the fourth quarter worth about $ 27,000. Psagot Value Holdings Ltd. Israel boosted its holdings in AbbVie by 311.3% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company stock valued at $ 28,000 after purchasing an additional 3,300 shares in the last quarter. Steward Financial Group LLC purchased a new stake in AbbVie in the 4th quarter valued at approximately $ 30,000. Finally, Maryland Capital Advisors Inc. purchased a new stake in AbbVie in the 4th quarter valued at approximately $ 41,000. 67.03% of the stock is currently owned by hedge funds and other institutional investors.
In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of the business’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $ 150.81, for a total value of $ 15,081,000.00. Following the completion of the transaction, the insider now directly owns 152,103 shares in the company, valued at approximately $ 22,938,653.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry O. Gosebruch sold 83,960 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $ 155.00, for a total value of $ 13,013,800.00. Following the completion of the transaction, the executive vice president now owns 16,623 shares of the company stock, valued at $ 2,576,565. The disclosure for this sale can be found here. Insiders have sold a total of 463,761 shares of company stock valued at $ 70,609,771 over the last 90 days. Insiders own 0.08% of the company stock.
A number of equities research analysts have weighed in on the company. The Goldman Sachs Group lifted their price target on AbbVie from $ 122.00 to $ 140.00 and gave the company a “neutral” rating in a report on Tuesday, April 12th. Daiwa Capital Markets lowered AbbVie from an “outperform” rating to a “neutral” rating and set a $ 150.00 price objective on the stock. in a report on Friday, May 6th. StockNews.com raised AbbVie from a “buy” rating to a “strong-buy” rating in a report on Friday, April 8th. Citigroup lifted their price objective on AbbVie from $ 155.00 to $ 170.00 in a report on Tuesday, March 1st. Finally, SVB Leerink began coverage on AbbVie in a research note on Monday, May 23rd. They set an “underperform” rating and a $ 140.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $ 159.75.
Shares of AbbVie stock opened at $ 152.34 on Friday. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. AbbVie Inc. has a 1 year low of $ 105.56 and a 1 year high of $ 175.91. The company has a market capitalization of $ 269.20 billion, a P / E ratio of 21.86, a P / E / G ratio of 4.21 and a beta of 0.83. The business has a 50 day moving average price of $ 149.71 and a 200 day moving average price of $ 146.58.
AbbVie (NYSE: ABBV – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The company reported $ 3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 3.15 by $ 0.01. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The firm 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 EPS. The company quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that AbbVie Inc. will post 14.02 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Investors of record on Friday, July 15th will be given a dividend of $ 1.41 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $ 5.64 annualized dividend and a dividend yield of 3.70%. AbbVie’s dividend payout ratio is currently 80.92%.
AbbVie Company Profile: (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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