SOL Capital Management CO cut its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 10.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,479 shares of the company’s stock after selling 172 shares during the period. SOL Capital Management CO’s holdings in AbbVie were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also modified their holdings of the company. Castle Financial & Retirement Planning Associates Inc. purchased a new stake in shares of AbbVie in the fourth quarter worth approximately $25,000. Intelligent Financial Strategies bought a new position in AbbVie in the fourth quarter worth approximately $27,000. Psagot Value Holdings Ltd. Israel grew its stake in AbbVie by 311.3% in the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 4,360 shares of the company’s stock worth $28,000 after purchasing an additional 3,300 shares in the last quarter. Steward Financial Group LLC bought a new position in AbbVie in the fourth quarter worth approximately $30,000. Finally, Maryland Capital Advisors Inc. bought a new position in AbbVie in the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 67.03% of the company’s stock.
In other AbbVie news, Vice Chairman Michael Severino sold 100,000 shares of AbbVie stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $150.81, for a total transaction of $15,081,000.00. Following the completion of the transaction, the insider now owns 152,103 shares in the company, valued at approximately $22,938,653.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Henry O. Gosebruch sold 83,960 shares of AbbVie stock in a transaction dated 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 transaction, the executive vice president now owns 16,623 shares of the company’s stock, valued at approximately $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 in the last quarter. Company insiders own 0.08% of the company’s stock.
Shares of ABBV stock opened at $152.49 on Wednesday. The firm has a market capitalization of $269.47 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 4.29 and a beta of 0.83. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.82 and a quick ratio of 0.71. The business has a fifty day moving average of $149.51 and a 200 day moving average of $147.15. AbbVie Inc. has a 1 year low of $105.56 and a 1 year high of $175.91.
AbbVie (NYSE:ABBV – Get Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $3.15 by $0.01. The business had revenue of $13.36 billion during the quarter, compared to analyst estimates of $13.61 billion. AbbVie had a return on equity of 159.31% and a net margin of 22.00%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $2.95 EPS. As a group, equities research analysts expect that AbbVie Inc. will post 14.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Shareholders of record on Friday, July 15th will be paid a dividend of $1.41 per share. The ex-dividend date of this dividend is Thursday, July 14th. This represents a $5.64 dividend on an annualized basis and a dividend yield of 3.70%. AbbVie’s payout ratio is currently 80.92%.
Several brokerages recently issued reports on ABBV. Morgan Stanley increased their price objective on AbbVie from $142.00 to $192.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. The Goldman Sachs Group increased their price objective on AbbVie from $122.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 12th. BMO Capital Markets increased their price objective on AbbVie from $161.00 to $174.00 and gave the stock an “outperform” rating in a research note on Monday, April 25th. SVB Leerink started coverage on AbbVie in a research report on Monday, May 23rd. They set an “underperform” rating and a $140.00 target price on the stock. Finally, Wells Fargo & Company increased their target price on AbbVie from $165.00 to $200.00 in a research report on Monday, May 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $159.75.
AbbVie Company Profile: (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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