AbbVie Inc. (ABBV) Position Lessened by CHICAGO TRUST Co NA
CHICAGO TRUST Co NA reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 7.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,909 shares of the company’s stock after selling 6,975 shares during the period. AbbVie accounts for about 2.7% of CHICAGO TRUST Co NA’s holdings, making the stock its 3rd biggest position. CHICAGO TRUST Co NA’s holdings in AbbVie were worth $6,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Accident Compensation Corp raised its position in shares of AbbVie by 24.7% during the 1st quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock worth $4,314,000 after purchasing an additional 13,100 shares during the last quarter. Investec Asset Management LTD raised its position in shares of AbbVie by 3.6% during the 1st quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock worth $10,880,000 after purchasing an additional 5,801 shares during the last quarter. Comerica Securities Inc. raised its position in shares of AbbVie by 832.7% during the 1st quarter. Comerica Securities Inc. now owns 66,443 shares of the company’s stock worth $4,329,000 after purchasing an additional 59,319 shares during the last quarter. Suntrust Banks Inc. raised its position in shares of AbbVie by 3.7% during the 1st quarter. Suntrust Banks Inc. now owns 1,216,484 shares of the company’s stock worth $79,265,000 after purchasing an additional 43,617 shares during the last quarter. Finally, Clean Yield Group raised its position in shares of AbbVie by 25.0% during the 1st quarter. Clean Yield Group now owns 9,598 shares of the company’s stock worth $625,000 after purchasing an additional 1,920 shares during the last quarter. Hedge funds and other institutional investors own 68.25% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded down 0.11% during trading on Friday, hitting $88.86. 6,769,367 shares of the company traded hands. The firm has a 50 day moving average of $75.76 and a 200 day moving average of $69.87. The firm has a market cap of $141.65 billion, a P/E ratio of 21.85 and a beta of 1.48. AbbVie Inc. has a one year low of $55.06 and a one year high of $89.69.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 EPS. On average, analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 annualized dividend and a dividend yield of 2.88%. AbbVie’s dividend payout ratio (DPR) is 62.90%.
Several research firms have commented on ABBV. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $100.00 target price on shares of AbbVie in a research note on Friday, September 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $107.00 target price (up from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Deutsche Bank AG lifted their target price on shares of AbbVie to $88.00 and gave the stock a “hold” rating in a research note on Thursday. Morgan Stanley lifted their target price on shares of AbbVie from $70.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Argus lifted their target price on shares of AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. AbbVie currently has a consensus rating of “Buy” and an average price target of $86.66.
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In other AbbVie news, Director Edward J. Rapp purchased 4,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were bought at an average price of $70.45 per share, for a total transaction of $281,800.00. Following the purchase, the director now directly owns 15,498 shares in the company, valued at approximately $1,091,834.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Henry O. Gosebruch sold 18,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the transaction, the insider now owns 96,074 shares in the company, valued at approximately $6,733,826.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 379,890 shares of company stock worth $27,187,817. 0.23% of the stock is currently owned by company insiders.
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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