Woodstock Corp Sells 991 Shares of AbbVie Inc. (ABBV)
Woodstock Corp cut its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,230 shares of the company’s stock after selling 991 shares during the period. AbbVie comprises approximately 1.3% of Woodstock Corp’s portfolio, making the stock its 29th largest position. Woodstock Corp’s holdings in AbbVie were worth $6,833,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Acropolis Investment Management LLC acquired a new stake in AbbVie during the 2nd quarter worth approximately $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in AbbVie during the 1st quarter worth approximately $108,000. Atwood & Palmer Inc. boosted its position in AbbVie by 1,333.3% during the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares during the period. Tradewinds Capital Management LLC boosted its position in AbbVie by 87.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after buying an additional 1,057 shares during the period. Finally, Shamrock Asset Management LLC acquired a new stake in AbbVie during the 1st quarter worth approximately $183,000. Institutional investors and hedge funds own 68.26% of the company’s stock.
AbbVie Inc. (NYSE ABBV) traded up 0.34% during mid-day trading on Friday, hitting $90.49. 3,462,155 shares of the stock traded hands. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $91.33. The firm has a market capitalization of $144.25 billion, a P/E ratio of 22.26 and a beta of 1.51. The company has a 50-day moving average of $82.25 and a 200 day moving average of $71.95.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm posted $1.26 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post $5.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.64 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a yield of 2.83%. AbbVie’s dividend payout ratio (DPR) is 62.90%.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the stock in a transaction on Thursday, September 28th. The stock was 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 $880,616. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the 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 completion of the transaction, the senior vice president now owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 379,890 shares of company stock valued at $27,187,817. 0.23% of the stock is owned by corporate insiders.
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Several equities research analysts recently commented on the stock. Piper Jaffray Companies reiterated a “buy” rating and set a $100.00 target price on shares of AbbVie in a research report on Friday, September 15th. Jefferies Group LLC restated a “buy” rating and issued a $107.00 price target (up previously from $94.00) on shares of AbbVie in a research report on Friday, September 15th. Barclays PLC restated a “hold” rating and issued a $68.00 price target on shares of AbbVie in a research report on Thursday, September 28th. BMO Capital Markets restated a “hold” rating and issued a $66.00 price target on shares of AbbVie in a research report on Thursday, September 28th. Finally, Deutsche Bank AG boosted their price target on shares of AbbVie to $88.00 and gave the stock a “hold” rating in a research report on Thursday, September 28th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $89.90.
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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