AbbVie Inc. (ABBV) Shares Sold by Brookstone Capital Management
Brookstone Capital Management lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,326 shares of the company’s stock after selling 3,210 shares during the period. Brookstone Capital Management’s holdings in AbbVie were worth $6,550,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Savant Capital LLC lifted its holdings in shares of AbbVie by 1.3% in the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after purchasing an additional 793 shares in the last quarter. Princeton Capital Management Inc. purchased a new stake in shares of AbbVie in the second quarter valued at about $1,394,000. Accident Compensation Corp lifted its holdings in shares of AbbVie by 24.7% in the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after purchasing an additional 13,100 shares in the last quarter. Investec Asset Management LTD lifted its holdings in shares of AbbVie by 3.6% in the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock valued at $10,880,000 after purchasing an additional 5,801 shares in the last quarter. Finally, Palisade Asset Management LLC lifted its holdings in shares of AbbVie by 17.9% in the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after purchasing an additional 10,381 shares in the last quarter. 67.65% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on the stock. BMO Capital Markets reaffirmed a “hold” rating and issued a $84.00 price target on shares of AbbVie in a report on Tuesday. Societe Generale upped their price target on shares of AbbVie in a report on Tuesday. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of AbbVie in a report on Monday, October 30th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. AbbVie currently has an average rating of “Buy” and a consensus price target of $94.68.
AbbVie Inc. (ABBV) opened at $94.47 on Friday. AbbVie Inc. has a 52-week low of $58.60 and a 52-week high of $98.26. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. The company has a market cap of $150,814.73, a P/E ratio of 17.79, a P/E/G ratio of 1.31 and a beta of 1.51.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter in the prior year, the business posted $1.21 earnings per share. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities research analysts expect that AbbVie Inc. will post 5.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 3.01%. AbbVie’s dividend payout ratio is 62.29%.
In other news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction on 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 sale, the vice president now owns 10,007 shares of the company’s stock, valued at $880,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. Insiders have sold 58,932 shares of company stock valued at $5,379,432 in the last ninety days. 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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