AbbVie Inc. (ABBV) Stake Held by Everence Capital Management Inc.
Everence Capital Management Inc. continued to hold its position in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 39,974 shares of the company’s stock at the close of the second quarter. Everence Capital Management Inc.’s holdings in AbbVie were worth $2,899,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC purchased a new position in AbbVie in the second quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in AbbVie in the first quarter valued at about $108,000. Atwood & Palmer Inc. boosted its stake in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after acquiring an additional 2,000 shares during the last quarter. Tradewinds Capital Management LLC boosted its stake in AbbVie by 87.2% in the first 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. Finally, Exane Asset Management purchased a new position in AbbVie in the second quarter valued at about $181,000. Institutional investors and hedge funds own 68.52% of the company’s stock.
In other news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders sold a total of 33,299 shares of company stock valued at $2,952,243 in the last ninety days. 0.23% of the stock is owned by corporate insiders.
AbbVie Inc. (NYSE:ABBV) opened at $95.43 on Friday. The company has a market cap of $152,347.33, a price-to-earnings ratio of 17.97, a PEG ratio of 1.32 and a beta of 1.51. AbbVie Inc. has a twelve month low of $58.60 and a twelve month high of $98.26. The company has a quick ratio of 1.25, a current ratio of 1.45 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the prior year, the company earned $1.21 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. equities research analysts expect that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a $0.71 dividend. 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 dividend on an annualized basis and a dividend yield of 2.98%. AbbVie’s dividend payout ratio is 62.29%.
A number of analysts recently commented on the stock. Jefferies Group LLC upped their price target on shares of AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, October 16th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. BMO Capital Markets set a $66.00 price target on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, October 27th. Cowen and Company upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and upped their price target for the company from $91.17 to $105.00 in a research note on Wednesday, October 11th. Finally, Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Eight equities research 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 stock. The company presently has a consensus rating of “Buy” and an average price target of $93.68.
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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