AbbVie Inc. (ABBV) Stake Decreased by Vision Capital Management Inc.
Vision Capital Management Inc. decreased its holdings in AbbVie Inc. (NYSE:ABBV) by 19.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,558 shares of the company’s stock after selling 12,463 shares during the quarter. AbbVie comprises about 1.3% of Vision Capital Management Inc.’s portfolio, making the stock its 29th biggest position. Vision Capital Management Inc.’s holdings in AbbVie were worth $3,811,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of ABBV. Acropolis Investment Management LLC purchased a new position in shares of AbbVie during the 2nd quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in shares of AbbVie during the 1st quarter valued at about $108,000. Hudock Capital Group LLC raised its stake in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after buying an additional 806 shares during the last quarter. Ffcm LLC raised its stake in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after buying an additional 963 shares during the last quarter. Finally, BDO Wealth Advisors LLC purchased a new position in shares of AbbVie during the 2nd quarter valued at about $115,000. 69.32% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the transaction, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 277,125 shares of company stock worth $25,891,756. Insiders own 0.23% of the company’s stock.
Several equities analysts recently weighed in on the company. Evercore ISI assumed coverage on AbbVie in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 price target for the company. Leerink Swann set a $106.00 price target on AbbVie and gave the company a “buy” rating in a research note on Tuesday. SunTrust Banks restated a “buy” rating and issued a $95.00 price target on shares of AbbVie in a research note on Wednesday, September 13th. UBS lowered AbbVie from a “buy” rating to a “neutral” rating and lifted their price target for the company from $79.00 to $92.00 in a research note on Monday, September 25th. Finally, Argus lifted their price target on AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $96.66.
Shares of AbbVie Inc. (NYSE:ABBV) opened at $94.24 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a twelve month low of $59.09 and a twelve month high of $98.52. The stock has a market capitalization of $150,702.98, a PE ratio of 17.78, a P/E/G ratio of 1.31 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. equities research analysts anticipate that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s payout ratio is currently 62.29%.
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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.
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