AbbVie Inc. (ABBV) Position Reduced by SFE Investment Counsel
SFE Investment Counsel reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 17.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,826 shares of the company’s stock after selling 19,914 shares during the quarter. AbbVie comprises approximately 2.7% of SFE Investment Counsel’s portfolio, making the stock its 9th largest holding. SFE Investment Counsel’s holdings in AbbVie were worth $6,731,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently made changes to their positions in the stock. State Street Corp grew 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 worth $4,754,696,000 after purchasing an additional 1,696,042 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in AbbVie during the 1st quarter worth $46,744,000. Bank of Nova Scotia grew 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 worth $39,507,000 after purchasing an additional 453,955 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew 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 worth $78,354,000 after purchasing an additional 357,353 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in AbbVie by 58.6% during the 1st quarter. AQR Capital Management LLC now owns 940,824 shares of the company’s stock worth $61,304,000 after purchasing an additional 347,710 shares during the last quarter. Hedge funds and other institutional investors own 68.52% of the company’s stock.
In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the transaction, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,299 shares of company stock valued at $2,952,243. 0.23% of the stock is currently owned by company insiders.
Shares of AbbVie Inc. (ABBV) opened at $92.31 on Monday. The company has a market cap of $147,150.91, a PE ratio of 17.38, a P/E/G ratio of 1.28 and a beta of 1.51. AbbVie Inc. has a fifty-two week low of $55.87 and a fifty-two week high of $98.26. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 5.63.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 164.66%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. analysts forecast that AbbVie Inc. will post 5.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 3.08%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is presently 62.29%.
Several research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. BMO Capital Markets set a $66.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Friday, October 27th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of AbbVie in a report on Monday, October 30th. Leerink Swann lowered their target price on shares of AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Finally, BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus 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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