AbbVie Inc (ABBV) Shares Sold by Jensen Investment Management Inc.
Jensen Investment Management Inc. trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 4.8% in the 3rd quarter, Holdings Channel reports. The firm owned 28,770 shares of the company’s stock after selling 1,450 shares during the quarter. Jensen Investment Management Inc.’s holdings in AbbVie were worth $2,557,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in ABBV. First PREMIER Bank raised its holdings in shares of AbbVie by 43.2% in the second quarter. First PREMIER Bank now owns 4,295 shares of the company’s stock valued at $311,000 after acquiring an additional 1,295 shares in the last quarter. First American Trust FSB raised its holdings in shares of AbbVie by 36.9% in the second quarter. First American Trust FSB now owns 4,821 shares of the company’s stock valued at $349,000 after acquiring an additional 1,300 shares in the last quarter. Pioneer Trust Bank N A OR raised its holdings in shares of AbbVie by 1.0% in the second quarter. Pioneer Trust Bank N A OR now owns 51,795 shares of the company’s stock valued at $3,756,000 after acquiring an additional 520 shares in the last quarter. American National Bank raised its holdings in shares of AbbVie by 61.6% in the second quarter. American National Bank now owns 3,993 shares of the company’s stock valued at $290,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of AbbVie by 10.5% in the second quarter. Handelsbanken Fonder AB now owns 748,841 shares of the company’s stock valued at $54,298,000 after acquiring an additional 71,000 shares in the last quarter. Institutional investors and hedge funds own 69.18% of the company’s stock.
In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares in the company, valued at $7,360,537.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the completion of the transaction, the senior vice president now owns 113,118 shares in the company, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. Insiders sold 494,676 shares of company stock worth $47,237,938 in the last quarter. 0.23% of the stock is owned by insiders.
Several analysts recently weighed in on ABBV shares. 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. Deutsche Bank lifted their price objective on AbbVie to $88.00 and gave the company a “hold” rating in a report on Thursday, September 28th. Jefferies Group restated 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. Finally, Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price objective for the company in a report on Wednesday, December 20th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $100.94.
AbbVie Inc (NYSE ABBV) opened at $100.34 on Friday. AbbVie Inc has a 52 week low of $59.27 and a 52 week high of $101.28. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. The stock has a market capitalization of $159,950.00, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.53.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue 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 announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is 62.14%.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Watch List News and is owned by of Watch List News. If you are viewing this news story on another domain, it was copied illegally and republished in violation of US and international trademark & copyright laws. The legal version of this news story can be viewed at https://www.watchlistnews.com/abbvie-inc-abbv-shares-sold-by-jensen-investment-management-inc/1805301.html.
AbbVie Company Profile
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.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with Analyst Ratings Network's FREE daily email newsletter.