Bellecapital International Ltd. Sells 388 Shares of AbbVie Inc. (ABBV)
Bellecapital International Ltd. cut its stake in AbbVie Inc. (NYSE:ABBV) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,416 shares of the company’s stock after selling 388 shares during the quarter. Bellecapital International Ltd.’s holdings in AbbVie were worth $683,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in ABBV. Evanson Asset Management LLC grew its position in shares of AbbVie by 8.5% in the first quarter. Evanson Asset Management LLC now owns 10,737 shares of the company’s stock valued at $700,000 after purchasing an additional 843 shares in the last quarter. DnB Asset Management AS grew its position in shares of AbbVie by 11.6% in the first quarter. DnB Asset Management AS now owns 172,395 shares of the company’s stock valued at $11,233,000 after purchasing an additional 17,900 shares in the last quarter. Coastline Trust Co grew its position in shares of AbbVie by 9.1% in the first quarter. Coastline Trust Co now owns 14,976 shares of the company’s stock valued at $975,000 after purchasing an additional 1,250 shares in the last quarter. Perkins Capital Management Inc. grew its position in shares of AbbVie by 12.3% in the first quarter. Perkins Capital Management Inc. now owns 19,675 shares of the company’s stock valued at $1,282,000 after purchasing an additional 2,150 shares in the last quarter. Finally, NewSquare Capital LLC grew its position in shares of AbbVie by 17.3% in the first quarter. NewSquare Capital LLC now owns 15,866 shares of the company’s stock valued at $1,034,000 after purchasing an additional 2,340 shares in the last quarter. Institutional investors own 68.25% of the company’s stock.
Shares of AbbVie Inc. (ABBV) opened at 87.48 on Monday. The firm’s 50-day moving average price is $75.76 and its 200 day moving average price is $69.87. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $89.69. The company has a market cap of $139.45 billion, a price-to-earnings ratio of 21.52 and a beta of 1.48.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.02. The firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post $5.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.93%. AbbVie’s payout ratio is 62.90%.
In other news, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the completion of the transaction, the chairman now owns 469,623 shares in the company, valued at $33,343,233. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard A. Gonzalez sold 65,861 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $71.00, for a total value of $4,676,131.00. Following the transaction, the chief executive officer now owns 342,353 shares of the company’s stock, valued at approximately $24,307,063. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 373,191 shares of company stock valued at $26,598,305. Company insiders own 0.23% of the company’s stock.
Several equities analysts have recently weighed in on ABBV shares. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Credit Suisse Group reiterated a “hold” rating and issued a $65.00 price target on shares of AbbVie in a research report on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $100.00 target price (up from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Zacks Investment Research cut AbbVie from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC restated a “buy” rating and set a $94.00 target price on shares of AbbVie in a research report on Friday, September 8th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $82.38.
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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