AbbVie Inc. (ABBV) Shares Sold by Cambridge Trust Co.
Cambridge Trust Co. lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.5% during the first quarter, Holdings Channel reports. The institutional investor owned 72,977 shares of the company’s stock after selling 1,868 shares during the period. Cambridge Trust Co.’s holdings in AbbVie were worth $4,755,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bollard Group LLC boosted its stake in AbbVie by 0.5% in the first quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock valued at $244,000 after buying an additional 20 shares during the last quarter. TRUE Private Wealth Advisors boosted its stake in AbbVie by 0.5% in the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock valued at $313,000 after buying an additional 24 shares during the last quarter. St. Louis Trust Co boosted its stake in AbbVie by 0.7% in the first quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock valued at $221,000 after buying an additional 25 shares during the last quarter. Country Club Trust Company n.a. boosted its stake in AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock valued at $289,000 after buying an additional 26 shares during the last quarter. Finally, Stratford Consulting LLC boosted its stake in AbbVie by 0.7% in the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock valued at $258,000 after buying an additional 29 shares during the last quarter. Institutional investors own 67.69% of the company’s stock.
Shares of AbbVie Inc. (ABBV) traded up 0.44% during mid-day trading on Wednesday, hitting $70.65. The stock had a trading volume of 810,696 shares. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $75.04. The company’s 50 day moving average is $71.93 and its 200-day moving average is $66.99. The stock has a market cap of $112.62 billion, a P/E ratio of 17.38 and a beta of 1.50.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The company 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%. AbbVie’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.64%. The ex-dividend date was Wednesday, July 12th. AbbVie’s payout ratio is 62.90%.
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Several analysts have weighed in on the company. Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 price objective (up from $65.00) on shares of AbbVie in a research report on Monday, July 17th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective on the stock in a research report on Wednesday, July 26th. BidaskClub cut AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 price objective (up from $92.00) on shares of AbbVie in a research report on Monday, July 17th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $74.66.
In other AbbVie news, CEO Richard A. Gonzalez sold 65,861 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $71.00, for a total value of $4,676,131.00. Following the completion of the sale, the chief executive officer now directly owns 342,353 shares in the company, valued at $24,307,063. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William J. Chase sold 38,300 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the completion of the sale, the chief financial officer now owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 600,026 shares of company stock worth $41,852,724. 0.23% of the stock is currently owned by corporate 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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