AbbVie Inc. (ABBV) Shares Sold by City Holding Co.
City Holding Co. cut its holdings in AbbVie Inc. (NYSE:ABBV) by 0.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,199 shares of the company’s stock after selling 330 shares during the quarter. AbbVie comprises 1.1% of City Holding Co.’s holdings, making the stock its 19th largest position. City Holding Co.’s holdings in AbbVie were worth $3,060,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Edmp Inc. increased its holdings in shares of AbbVie by 2.5% in the first quarter. Edmp Inc. now owns 34,170 shares of the company’s stock valued at $2,227,000 after purchasing an additional 820 shares during the period. Washington Trust Bank increased its holdings in shares of AbbVie by 1.8% in the first quarter. Washington Trust Bank now owns 54,691 shares of the company’s stock valued at $3,564,000 after purchasing an additional 967 shares during the period. Howland Capital Management LLC increased its holdings in shares of AbbVie by 0.3% in the first quarter. Howland Capital Management LLC now owns 41,682 shares of the company’s stock valued at $2,716,000 after purchasing an additional 113 shares during the period. Reilly Financial Advisors LLC increased its holdings in shares of AbbVie by 16.4% in the first quarter. Reilly Financial Advisors LLC now owns 3,448 shares of the company’s stock valued at $225,000 after purchasing an additional 485 shares during the period. Finally, Vicus Capital increased its holdings in shares of AbbVie by 60.8% in the first quarter. Vicus Capital now owns 14,311 shares of the company’s stock valued at $932,000 after purchasing an additional 5,413 shares during the period. Institutional investors own 68.25% of the company’s stock.
In other AbbVie news, Chairman Richard A. Gonzalez sold 193,131 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the transaction, the chairman now owns 469,623 shares in the company, valued at approximately $33,343,233. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Henry O. Gosebruch sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $70.09, for a total value 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. Over the last ninety days, insiders have sold 373,191 shares of company stock valued at $26,598,305. 0.23% of the stock is owned by company insiders.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.07% during mid-day trading on Friday, reaching $87.35. The company’s stock had a trading volume of 4,318,258 shares. The company has a market capitalization of $139.24 billion, a price-to-earnings ratio of 21.48 and a beta of 1.48. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $89.69. The company’s 50 day moving average price is $75.76 and its 200-day moving average price is $69.87.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 EPS. Analysts predict that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, October 12th. AbbVie’s dividend payout ratio is presently 62.90%.
A number of research analysts have recently weighed in on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $100.00 price objective on shares of AbbVie in a report on Friday, September 15th. Jefferies Group LLC reissued a “buy” rating and issued a $107.00 price objective (up from $94.00) on shares of AbbVie in a report on Friday, September 15th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $95.00 price objective on shares of AbbVie in a report on Wednesday, September 13th. Leerink Swann reissued a “market perform” rating on shares of AbbVie in a report on Tuesday, September 12th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $100.00 price objective (up from $85.00) on shares of AbbVie in a report on Friday, September 8th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Buy” and a consensus price target of $82.38.
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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