Ray Gerald L & Associates Ltd. Sells 1,200 Shares of AbbVie Inc. (ABBV)
Ray Gerald L & Associates Ltd. lowered its stake in AbbVie Inc. (NYSE:ABBV) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,727 shares of the company’s stock after selling 1,200 shares during the period. Ray Gerald L & Associates Ltd.’s holdings in AbbVie were worth $2,156,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its stake in AbbVie by 2.4% during the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after purchasing an additional 1,696,042 shares during the last quarter. Legal & General Group Plc boosted its stake in AbbVie by 1.7% during the 2nd quarter. Legal & General Group Plc now owns 8,049,351 shares of the company’s stock valued at $583,658,000 after purchasing an additional 131,159 shares during the last quarter. Prudential Financial Inc. boosted its stake in AbbVie by 41.5% during the 2nd quarter. Prudential Financial Inc. now owns 5,469,241 shares of the company’s stock valued at $396,575,000 after purchasing an additional 1,603,748 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in AbbVie by 1.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,226,116 shares of the company’s stock valued at $378,946,000 after purchasing an additional 89,442 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in AbbVie by 1.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,570,566 shares of the company’s stock valued at $331,412,000 after purchasing an additional 46,487 shares during the last quarter. Institutional investors own 67.65% of the company’s stock.
In related news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction on 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 directly owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Severino sold 25,633 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares in the company, valued at $10,881,964.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 277,125 shares of company stock worth $25,891,756. 0.23% of the stock is owned by insiders.
Several brokerages have commented on ABBV. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 11th. Societe Generale increased their target price on AbbVie in a research note on Tuesday, November 21st. BMO Capital Markets reiterated a “hold” rating and set a $84.00 target price on shares of AbbVie in a research note on Tuesday, November 21st. Finally, Leerink Swann cut their target price on AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. Eight investment 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’s stock. AbbVie presently has a consensus rating of “Buy” and an average price target of $94.68.
AbbVie Inc. (ABBV) opened at $94.72 on Monday. The firm has a market capitalization of $151,213.86, a price-to-earnings ratio of 17.84, a PEG ratio of 1.31 and a beta of 1.51. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45. AbbVie Inc. has a twelve month low of $58.75 and a twelve month high of $98.26.
AbbVie (NYSE:ABBV) last released 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. The firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. sell-side analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The business also recently announced 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. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
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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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