Spectrum Asset Management Inc. NB CA bought a new stake in shares of AbbVie Inc (NYSE:ABBV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,860 shares of the company’s stock, valued at approximately $1,311,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Signature Estate & Investment Advisors LLC purchased a new position in shares of AbbVie in the 3rd quarter worth $112,000. Mainstay Capital Management LLC ADV boosted its stake in shares of AbbVie by 6,123.5% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 12,447 shares of the company’s stock worth $143,000 after buying an additional 12,247 shares during the last quarter. First Mercantile Trust Co. purchased a new position in shares of AbbVie in the 2nd quarter worth $150,000. MUFG Securities EMEA plc purchased a new position in shares of AbbVie in the 2nd quarter worth $157,000. Finally, Kiley Juergens Wealth Management LLC boosted its stake in shares of AbbVie by 69.3% in the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock worth $166,000 after buying an additional 721 shares during the last quarter. Institutional investors and hedge funds own 69.85% of the company’s stock.
In other AbbVie news, EVP Henry O. Gosebruch sold 42,450 shares of the firm’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $90.10, for a total transaction of $3,824,745.00. Following the sale, the executive vice president now directly owns 30,350 shares of the company’s stock, valued at $2,734,535. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.
NYSE:ABBV opened at $90.55 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.08 and a debt-to-equity ratio of 8.70. The stock has a market cap of $141.80 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.68. AbbVie Inc has a 52 week low of $77.50 and a 52 week high of $125.86.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, November 2nd. The company reported $2.14 EPS for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.13. The business had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $1.41 earnings per share. As a group, analysts predict that AbbVie Inc will post 7.93 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, January 14th. This is a boost from AbbVie’s previous quarterly dividend of $0.96. This represents a $4.28 dividend on an annualized basis and a yield of 4.73%. AbbVie’s dividend payout ratio (DPR) is currently 68.57%.
A number of equities analysts have recently issued reports on the company. BMO Capital Markets dropped their price target on AbbVie from $78.00 to $71.00 and set an “underperform” rating on the stock in a research note on Monday, November 5th. Credit Suisse Group set a $85.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Friday, November 2nd. ValuEngine upgraded AbbVie from a “sell” rating to a “hold” rating in a research report on Monday, November 12th. Bank of America lifted their target price on AbbVie from $105.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Finally, Argus lowered their target price on AbbVie from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie currently has a consensus rating of “Hold” and an average price target of $103.68.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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