AbbVie Inc. (ABBV) Shares Sold by Hayek Kallen Investment Management
Hayek Kallen Investment Management lowered its stake in AbbVie Inc. (NYSE:ABBV) by 0.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,737 shares of the company’s stock after selling 275 shares during the quarter. AbbVie makes up about 2.0% of Hayek Kallen Investment Management’s holdings, making the stock its 25th biggest position. Hayek Kallen Investment Management’s holdings in AbbVie were worth $3,026,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Acropolis Investment Management LLC acquired a new position in AbbVie in the 2nd quarter valued at $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in AbbVie in the 1st quarter valued at $108,000. Hudock Capital Group LLC raised its holdings in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after acquiring an additional 806 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in AbbVie in the 2nd quarter valued at $115,000. Finally, Tradewinds Capital Management LLC raised its holdings in AbbVie by 87.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after acquiring an additional 1,057 shares during the last quarter. 67.65% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Inc. (NYSE:ABBV) opened at $94.72 on Friday. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie Inc. has a 12-month low of $58.75 and a 12-month high of $98.26. The company has a market cap of $150,814.73, a PE ratio of 17.79, a PEG 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 business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. research analysts forecast 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. Stockholders of record on Friday, January 12th will be given a dividend of $0.71 per share. This is a boost 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 dividend yield of 3.00%. AbbVie’s dividend payout ratio (DPR) is presently 62.29%.
In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the transaction, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. Insiders sold 277,125 shares of company stock worth $25,891,756 in the last three months. 0.23% of the stock is currently owned by corporate insiders.
A number of research firms have recently commented on ABBV. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Tuesday, October 17th. BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Goldman Sachs Group Inc restated a “buy” rating and set a $100.00 price objective (up from $85.00) on shares of AbbVie in a report on Friday, September 8th. Jefferies Group LLC restated a “buy” rating and set a $107.00 price objective (up from $94.00) on shares of AbbVie in a report on Friday, September 15th. Finally, Deutsche Bank AG upped their price objective on AbbVie to $88.00 and gave the stock a “hold” rating in a report on Thursday, September 28th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $94.68.
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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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