AbbVie Inc. (ABBV) is Bruce & Co. Inc.’s 8th Largest Position
Bruce & Co. Inc. continued to hold its stake in AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,915 shares of the company’s stock at the end of the 2nd quarter. AbbVie comprises about 3.9% of Bruce & Co. Inc.’s investment portfolio, making the stock its 8th biggest holding. Bruce & Co. Inc.’s holdings in AbbVie were worth $16,888,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in ABBV. Acropolis Investment Management LLC bought a new position in AbbVie during the second quarter worth about $106,000. Hudock Capital Group LLC increased its position in AbbVie by 109.5% during the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares during the period. BDO Wealth Advisors LLC bought a new position in AbbVie during the second quarter worth about $115,000. Franklin Parlapiano Turner & Welch LLC bought a new position in AbbVie during the first quarter worth about $108,000. Finally, Tradewinds Capital Management LLC increased its position in AbbVie by 87.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after acquiring an additional 1,057 shares during the period. Hedge funds and other institutional investors own 69.32% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) opened at $96.32 on Monday. AbbVie Inc. has a one year low of $58.80 and a one year high of $98.52. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The firm has a market cap of $153,768.13, a P/E ratio of 18.14, a PEG ratio of 1.36 and a beta of 1.52.
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 analysts’ consensus estimates of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the company posted $1.21 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. sell-side analysts anticipate that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a $0.71 dividend. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 62.29%.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the sale, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the sale, the vice president now owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 277,125 shares of company stock worth $25,891,756. 0.23% of the stock is currently owned by corporate insiders.
A number of equities analysts recently commented on ABBV shares. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price target on the stock in a research report on Tuesday, October 17th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 25th. Goldman Sachs Group reaffirmed a “buy” rating and set a $100.00 price target (up from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Deutsche Bank raised their price target on shares of AbbVie to $88.00 and gave the stock a “hold” rating in a research report on Thursday, September 28th. Finally, Jefferies Group reissued a “buy” rating and issued a $107.00 target price (up from $94.00) on shares of AbbVie in a report on Friday, September 15th. Seven equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $96.72.
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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