Douglass Winthrop Advisors LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 10.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 49,381 shares of the company’s stock after selling 5,637 shares during the period. Douglass Winthrop Advisors LLC’s holdings in AbbVie were worth $3,581,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. State Street Corp raised its position in AbbVie by 2.4% during the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after purchasing an additional 1,696,042 shares in the last quarter. Comerica Bank raised its position in AbbVie by 81.7% during the 2nd quarter. Comerica Bank now owns 1,849,149 shares of the company’s stock valued at $136,671,000 after purchasing an additional 831,625 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in AbbVie during the 1st quarter valued at $46,744,000. Bank of Nova Scotia raised its position in AbbVie by 297.9% during the 1st quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock valued at $39,507,000 after purchasing an additional 453,955 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in AbbVie by 42.3% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 1,202,483 shares of the company’s stock valued at $78,354,000 after purchasing an additional 357,353 shares in the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.
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Shares of AbbVie Inc. (NYSE:ABBV) opened at $95.89 on Friday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.25 and a current ratio of 1.45. The firm has a market capitalization of $152,794.31, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.32 and a beta of 1.51. AbbVie Inc. has a one year low of $58.60 and a one year high of $98.26.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.21 EPS. equities research analysts forecast that AbbVie Inc. will post 5.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is presently 62.29%.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the transaction, the insider now owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now directly owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,299 shares of company stock worth $2,952,243. Company insiders own 0.23% of the company’s stock.
A number of brokerages have recently issued reports on ABBV. Piper Jaffray Companies reiterated a “buy” rating and issued a $85.00 price target on shares of AbbVie in a report on Thursday, August 3rd. Barclays PLC reiterated a “hold” rating and issued a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI reiterated an “outperform” rating and issued a $100.00 price target (up from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, BidaskClub downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and an average price target of $93.68.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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