Bradley Foster & Sargent Inc. CT Sells 1,889 Shares of AbbVie Inc (ABBV)
Bradley Foster & Sargent Inc. CT reduced its position in AbbVie Inc (NYSE:ABBV) by 1.2% during the third quarter, HoldingsChannel reports. The firm owned 162,005 shares of the company’s stock after selling 1,889 shares during the quarter. Bradley Foster & Sargent Inc. CT owned 101.63% of AbbVie worth $14,396,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Acropolis Investment Management LLC bought a new position in AbbVie during the 2nd quarter valued at $106,000. Hudock Capital Group LLC raised its stake in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares during the period. Ffcm LLC raised its stake in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares during the period. Bristlecone Advisors LLC bought a new stake in shares of AbbVie during the 3rd quarter worth $113,000. Finally, BDO Wealth Advisors LLC bought a new stake in shares of AbbVie during the 2nd quarter worth $115,000. Institutional investors and hedge funds own 69.19% of the company’s stock.
Shares of AbbVie Inc (ABBV) opened at $102.49 on Wednesday. AbbVie Inc has a twelve month low of $59.27 and a twelve month high of $103.00. The firm has a market capitalization of $163,380.00, a PE ratio of 24.88, a P/E/G ratio of 1.20 and a beta of 1.53. The company has a quick ratio of 1.32, 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 for the quarter, topping the 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 company had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. analysts forecast that AbbVie Inc will post 5.54 earnings per share for the current year.
The company also recently disclosed 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 is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 2.77%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is 68.93%.
A number of equities research analysts have recently commented on the company. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $113.08 target price on the stock. in a research note on Monday, January 8th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Jefferies Group lifted their target price on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. BMO Capital Markets set a $84.00 target price on AbbVie and gave the stock a “hold” rating in a research note on Thursday, January 11th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of AbbVie in a research note on Tuesday, January 2nd. Seven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $100.94.
In other AbbVie 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 transaction, the insider now owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, 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. In the last three months, insiders sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is currently owned by insiders.
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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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