Tocqueville Asset Management L.P. Sells 725 Shares of AbbVie Inc. (ABBV)
Tocqueville Asset Management L.P. trimmed its holdings in AbbVie Inc. (NYSE:ABBV) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 621,460 shares of the company’s stock after selling 725 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in AbbVie were worth $45,062,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the company. Acropolis Investment Management LLC acquired a new position in AbbVie in the 2nd quarter valued at $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in AbbVie in the 1st quarter valued at $108,000. Atwood & Palmer Inc. increased its stake in AbbVie by 1,333.3% in the 1st 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 period. Tradewinds Capital Management LLC increased its stake in AbbVie by 87.2% in the 1st 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 period. Finally, Exane Asset Management acquired a new position in AbbVie in the 2nd quarter valued at $181,000. 68.16% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 price objective on shares of AbbVie in a research note on Thursday, August 3rd. Evercore ISI assumed coverage on shares of AbbVie in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 price objective on the stock. BidaskClub cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $95.00 price objective on shares of AbbVie in a research note on Wednesday, September 13th. Finally, UBS AG cut shares of AbbVie from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $79.00 to $92.00 in a research note on Monday, September 25th. Eight investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Buy” and an average target price of $93.68.
AbbVie Inc. (ABBV) opened at $95.12 on Tuesday. The stock has a market cap of $152,347.31, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.51. The company has a quick ratio of 1.32, a current ratio of 1.45 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a 1-year low of $58.60 and a 1-year high of $98.26.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. equities research analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.99%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio is 62.29%.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the transaction, the insider now owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the transaction, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at approximately $10,881,964.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 58,932 shares of company stock worth $5,379,432. 0.23% of the stock is owned by insiders.
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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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