AbbVie Inc (ABBV) Position Trimmed by St. Louis Trust Co
St. Louis Trust Co cut its holdings in shares of AbbVie Inc (NYSE:ABBV) by 46.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,986 shares of the company’s stock after selling 5,978 shares during the quarter. St. Louis Trust Co’s holdings in AbbVie were worth $648,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Fairfield Bush & CO. acquired a new stake in AbbVie during the first quarter worth about $146,000. First Mercantile Trust Co. acquired a new stake in AbbVie during the second quarter worth about $150,000. Centaurus Financial Inc. acquired a new stake in AbbVie during the first quarter worth about $153,000. MUFG Securities EMEA plc acquired a new stake in AbbVie during the second quarter worth about $157,000. Finally, KHP Capital LLC acquired a new stake in AbbVie during the first quarter worth about $161,000. Hedge funds and other institutional investors own 69.31% of the company’s stock.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the sale, the executive vice president now owns 111,481 shares in the company, valued at approximately $10,871,627.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by company insiders.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.02. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The firm had revenue of $8.28 billion during the quarter, compared to analyst estimates of $8.22 billion. During the same quarter last year, the firm earned $1.42 EPS. AbbVie’s quarterly revenue was up 19.2% on a year-over-year basis. equities analysts predict that AbbVie Inc will post 7.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.09%. AbbVie’s dividend payout ratio (DPR) is presently 68.57%.
ABBV has been the subject of several research analyst reports. Argus dropped their price target on AbbVie from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, June 11th. Cowen set a $110.00 target price on AbbVie and gave the company a “buy” rating in a research note on Friday, July 27th. Jefferies Financial Group set a $100.00 target price on AbbVie and gave the company a “buy” rating in a research note on Sunday, July 15th. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $103.00 target price for the company in a research note on Wednesday, June 27th. Finally, Bank of America lowered their target price on AbbVie from $112.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, July 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. AbbVie has a consensus rating of “Hold” and an average price target of $107.16.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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