AbbVie Inc. (ABBV) Stake Lessened by Loudon Investment Management LLC
Loudon Investment Management LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,554 shares of the company’s stock after selling 150 shares during the quarter. AbbVie accounts for approximately 1.9% of Loudon Investment Management LLC’s holdings, making the stock its 21st biggest position. Loudon Investment Management LLC’s holdings in AbbVie were worth $2,506,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. WealthTrust Axiom LLC increased its holdings in AbbVie by 0.3% in the 2nd quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after buying an additional 15 shares in the last quarter. Abner Herrman & Brock LLC increased its holdings in AbbVie by 0.3% in the 2nd quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after buying an additional 18 shares in the last quarter. Bollard Group LLC increased its holdings in AbbVie by 0.5% in the 2nd quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after buying an additional 19 shares in the last quarter. St. Louis Trust Co increased its holdings in AbbVie by 0.7% in the 2nd quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after buying an additional 23 shares in the last quarter. Finally, Stratford Consulting LLC increased its holdings in AbbVie by 0.7% in the 1st quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock worth $258,000 after buying an additional 29 shares in the last quarter. Institutional investors own 68.52% of the company’s stock.
AbbVie Inc. (ABBV) opened at $95.43 on Friday. AbbVie Inc. has a 12-month low of $58.60 and a 12-month high of $98.26. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.25 and a current ratio of 1.45. The firm has a market capitalization of $153,081.67, a PE ratio of 18.06, a PEG ratio of 1.33 and a beta of 1.51.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the firm earned $1.21 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. sell-side analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 2.98%. AbbVie’s payout ratio is currently 62.29%.
In related news, VP Robert A. Michael sold 6,699 shares of the business’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 of the company’s stock, valued at approximately $880,616. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,299 shares of company stock worth $2,952,243. 0.23% of the stock is owned by insiders.
Several equities research analysts recently commented on ABBV shares. Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 price objective (up from $92.00) on shares of AbbVie in a report on Monday, July 17th. Deutsche Bank AG reiterated a “hold” rating and issued a $66.00 price objective (up from $65.00) on shares of AbbVie in a report on Monday, July 17th. Credit Suisse Group restated a “neutral” rating and set a $74.00 price target (up from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price target for the company. in a research note on Thursday, July 20th. Finally, BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $93.68.
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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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