Sentry Investment Management LLC Decreases Position in AbbVie Inc (ABBV)
Sentry Investment Management LLC reduced its stake in AbbVie Inc (NYSE:ABBV) by 0.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,991 shares of the company’s stock after selling 562 shares during the period. Sentry Investment Management LLC’s holdings in AbbVie were worth $9,208,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC purchased a new stake in AbbVie in the second quarter worth about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in AbbVie in the first quarter worth about $108,000. Hudock Capital Group LLC grew its holdings 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 purchasing an additional 806 shares during the period. Ffcm LLC grew its holdings 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 purchasing an additional 963 shares during the period. Finally, BDO Wealth Advisors LLC purchased a new stake in AbbVie in the second quarter worth about $115,000. 69.32% of the stock is owned by institutional investors.
Shares of AbbVie Inc (NYSE ABBV) opened at $96.30 on Friday. AbbVie Inc has a fifty-two week low of $59.27 and a fifty-two week high of $98.87. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. The stock has a market cap of $155,412.45, a P/E ratio of 18.33, a P/E/G ratio of 1.35 and a beta of 1.52.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the company posted $1.21 earnings per share. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. analysts expect that AbbVie Inc will post 5.55 EPS 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. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 2.95%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
In related news, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now 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 at the SEC website. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 81,287 shares in the company, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. Insiders sold 268,825 shares of company stock worth $25,186,090 in the last 90 days. 0.23% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a report on Friday, October 20th. ValuEngine cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. BMO Capital Markets set a $84.00 price target on shares of AbbVie and gave the company a “hold” rating in a report on Monday, December 4th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Finally, Leerink Swann set a $106.00 price target on shares of AbbVie and gave the company a “buy” rating in a report on Tuesday, December 5th. Seven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $97.96.
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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