DF Dent & Co. Inc. Has $510,000 Position in AbbVie Inc. (ABBV)
DF Dent & Co. Inc. continued to hold its stake in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,821 shares of the company’s stock at the end of the first quarter. DF Dent & Co. Inc.’s holdings in AbbVie were worth $510,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of ABBV. First Command Financial Services Inc. raised its stake in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in AbbVie during the fourth quarter valued at about $137,000. Atwood & Palmer Inc. raised its stake in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after buying an additional 2,000 shares during the last quarter. Tradewinds Capital Management LLC raised 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 buying an additional 1,057 shares during the last quarter. Finally, American National Bank raised its stake in AbbVie by 13.8% in the first quarter. American National Bank now owns 2,471 shares of the company’s stock valued at $161,000 after buying an additional 299 shares during the last quarter. 67.89% of the stock is owned by institutional investors.
AbbVie Inc. (NYSE ABBV) traded down 0.97% on Thursday, hitting $71.32. 594,799 shares of the stock traded hands. The firm’s 50 day moving average is $72.15 and its 200 day moving average is $66.67. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04. The stock has a market cap of $113.69 billion, a price-to-earnings ratio of 17.54 and a beta of 1.50. AbbVie also saw unusually large options trading activity on Monday. Traders purchased 278 put options on the company. This represents an increase of approximately 121% compared to the average daily volume of 126 put options.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. AbbVie’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.26 EPS. Equities analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date is Wednesday, July 12th. AbbVie’s dividend payout ratio is presently 62.90%.
Several research analysts recently commented on the stock. Deutsche Bank AG reiterated a “hold” rating and issued a $66.00 target price (up previously from $65.00) on shares of AbbVie in a report on Monday, July 17th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a report on Wednesday, July 26th. BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 target price (up previously from $92.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and a consensus price target of $74.66.
In related news, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the transaction, the chairman now directly owns 469,623 shares of the company’s stock, valued at $33,343,233. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO William J. Chase sold 38,300 shares of the firm’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the transaction, the chief financial officer now directly owns 209,043 shares in the company, valued at $13,660,960.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 600,026 shares of company stock valued at $41,852,724. 0.23% of the stock is currently owned by corporate insiders.
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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