AbbVie Inc (ABBV) Stake Lowered by Sabal Trust CO
Sabal Trust CO lowered its position in shares of AbbVie Inc (NYSE:ABBV) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 345,442 shares of the company’s stock after selling 38,151 shares during the period. AbbVie comprises approximately 3.1% of Sabal Trust CO’s holdings, making the stock its 5th largest holding. Sabal Trust CO’s holdings in AbbVie were worth $30,696,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Acropolis Investment Management LLC purchased a new position in AbbVie in the second quarter valued at about $106,000. Hudock Capital Group LLC grew its stake in AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the last quarter. Ffcm LLC grew its stake in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in AbbVie in the second quarter valued at about $115,000. Finally, Tradewinds Capital Management LLC grew 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 purchasing an additional 1,057 shares during the last quarter. Hedge funds and other institutional investors own 69.18% of the company’s stock.
Shares of AbbVie Inc (NYSE ABBV) opened at $97.41 on Thursday. AbbVie Inc has a 52 week low of $59.27 and a 52 week high of $99.10. The firm has a market capitalization of $156,322.42, a PE ratio of 18.44, a PEG ratio of 1.36 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a dividend of $0.71 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.92%. AbbVie’s payout ratio is presently 62.29%.
In related 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 transaction of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the sale, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The disclosure for this sale can be found here. Insiders have sold 501,375 shares of company stock worth $47,827,450 in the last 90 days. Insiders own 0.23% of the company’s stock.
Several equities analysts have issued reports on the company. Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 target price on the stock in a research note on Wednesday. BMO Capital Markets set a $84.00 target price on AbbVie and gave the company a “hold” rating in a research note on Wednesday. Leerink Swann set a $106.00 target price on AbbVie and gave the company a “buy” rating in a research note on Tuesday, December 5th. ValuEngine lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Societe Generale lifted their target price on AbbVie in a research note on Tuesday, November 21st. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. AbbVie presently has an average rating of “Buy” and an average price target of $100.26.
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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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