First Western Capital Management Co Has $823,000 Stake in AbbVie Inc. (ABBV)
First Western Capital Management Co reduced its position in AbbVie Inc. (NYSE:ABBV) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,356 shares of the company’s stock after selling 2,279 shares during the period. First Western Capital Management Co’s holdings in AbbVie were worth $823,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Abner Herrman & Brock LLC grew its position in AbbVie by 0.3% during the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock valued at $456,000 after purchasing an additional 18 shares in the last quarter. Bollard Group LLC grew its position in AbbVie by 0.5% during the second quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock valued at $273,000 after purchasing an additional 19 shares in the last quarter. St. Louis Trust Co grew its position in AbbVie by 0.7% during the first quarter. St. Louis Trust Co now owns 3,388 shares of the company’s stock valued at $221,000 after purchasing an additional 25 shares in the last quarter. Stratford Consulting LLC grew its position in AbbVie by 0.7% during the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock valued at $258,000 after purchasing an additional 29 shares in the last quarter. Finally, K.J. Harrison & Partners Inc grew its position in AbbVie by 0.6% during the first quarter. K.J. Harrison & Partners Inc now owns 5,031 shares of the company’s stock valued at $328,000 after purchasing an additional 31 shares in the last quarter. 68.25% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have commented on the stock. Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 target price on shares of AbbVie in a research report on Thursday, August 3rd. Jefferies Group LLC boosted their target price on shares of AbbVie from $107.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday. Evercore ISI assumed coverage on shares of AbbVie in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 target price for the company. UBS AG downgraded shares of AbbVie from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $79.00 to $92.00 in a research report on Monday, September 25th. Finally, Leerink Swann raised shares of AbbVie from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $89.00 to $106.00 in a research report on Monday, October 2nd. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. AbbVie presently has a consensus rating of “Buy” and a consensus target price of $92.25.
In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The disclosure for this sale can be found here. In the last ninety days, insiders sold 379,890 shares of company stock valued at $27,187,817. 0.23% of the stock is owned by insiders.
Shares of AbbVie Inc. (NYSE ABBV) opened at 91.04 on Tuesday. The company has a market cap of $145.13 billion, a price-to-earnings ratio of 22.39 and a beta of 1.51. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $92.61. The stock has a 50 day moving average of $85.49 and a 200 day moving average of $72.96.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. AbbVie’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 earnings per share. On average, equities analysts expect that AbbVie Inc. will post $5.53 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 62.90%.
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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