Adirondack Research & Management Inc. Has $457,000 Position in AbbVie Inc. (ABBV)
Adirondack Research & Management Inc. continued to hold its position in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,300 shares of the company’s stock at the close of the second quarter. Adirondack Research & Management Inc.’s holdings in AbbVie were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of ABBV. State Street Corp grew its position in AbbVie by 2.4% in the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after purchasing an additional 1,696,042 shares during the last quarter. Legal & General Group Plc grew its position in AbbVie by 1.7% in the 2nd quarter. Legal & General Group Plc now owns 8,049,351 shares of the company’s stock worth $583,658,000 after purchasing an additional 131,159 shares during the last quarter. Swiss National Bank grew its position in AbbVie by 1.1% in the 2nd quarter. Swiss National Bank now owns 5,823,829 shares of the company’s stock worth $422,286,000 after purchasing an additional 65,600 shares during the last quarter. Prudential Financial Inc. grew its position in AbbVie by 41.5% in the 2nd quarter. Prudential Financial Inc. now owns 5,469,241 shares of the company’s stock worth $396,575,000 after purchasing an additional 1,603,748 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in AbbVie by 1.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,226,116 shares of the company’s stock worth $378,946,000 after purchasing an additional 89,442 shares during the last quarter. Institutional investors and hedge funds own 69.32% of the company’s stock.
AbbVie Inc. (NYSE ABBV) opened at $95.22 on Tuesday. AbbVie Inc. has a 12 month low of $58.80 and a 12 month high of $98.52. The firm has a market cap of $153,768.13, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.36 and a beta of 1.52. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping 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 the consensus estimate of $7 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. sell-side analysts anticipate that AbbVie Inc. will post 5.55 EPS for the current 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. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.98%. AbbVie’s payout ratio is currently 62.29%.
Several brokerages have recently weighed in on ABBV. BMO Capital Markets set a $84.00 target price on shares of AbbVie and gave the company a “hold” rating in a research report on Monday. ValuEngine lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday. Societe Generale lifted their target price on shares of AbbVie in a research report on Tuesday, November 21st. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. Finally, Zacks Investment Research lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $96.72.
In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’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 transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the sale, the chairman now directly owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 277,125 shares of company stock valued at $25,891,756. Insiders own 0.23% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This piece of content was first reported by Watch List News and is owned by of Watch List News. If you are reading this piece of content on another publication, it was stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/adirondack-research-management-inc-has-457000-position-in-abbvie-inc-abbv/1744762.html.
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 Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.