Exane Derivatives Has $2.74 Million Stake in AbbVie Inc (ABBV)
Exane Derivatives lessened its stake in shares of AbbVie Inc (NYSE:ABBV) by 24.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,799 shares of the company’s stock after selling 9,710 shares during the quarter. AbbVie makes up approximately 0.5% of Exane Derivatives’ portfolio, making the stock its 24th biggest position. Exane Derivatives’ holdings in AbbVie were worth $2,736,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in ABBV. Acropolis Investment Management LLC purchased a new stake in AbbVie in the second quarter worth $106,000. Ffcm LLC lifted its stake in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the period. Hudock Capital Group LLC lifted 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 worth $111,000 after acquiring an additional 806 shares during the period. BDO Wealth Advisors LLC purchased a new stake in AbbVie in the second quarter worth $115,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in AbbVie by 1,172.6% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,227 shares of the company’s stock worth $161,000 after acquiring an additional 2,052 shares during the period. 69.18% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the completion of the transaction, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The disclosure for this sale can be found here. Insiders have sold 501,375 shares of company stock valued at $47,827,450 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating 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 firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the company earned $1.21 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. equities research analysts forecast that AbbVie Inc will post 5.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 2.90%. AbbVie’s dividend payout ratio (DPR) is presently 62.14%.
A number of analysts recently commented on the company. Zacks Investment Research lowered AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. ValuEngine lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets set a $84.00 price objective on AbbVie and gave the company a “hold” rating in a research report on Monday, December 4th. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 11th. Finally, Leerink Swann set a $106.00 price objective on AbbVie and gave the company a “buy” rating in a research report on Tuesday, December 5th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $97.96.
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AbbVie Company Profile
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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