Evanson Asset Management LLC trimmed its holdings in shares of AbbVie Inc (NYSE:ABBV) by 11.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,609 shares of the company’s stock after selling 484 shares during the period. Evanson Asset Management LLC’s holdings in AbbVie were worth $273,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Pure Financial Advisors Inc. raised its stake in shares of AbbVie by 1.2% during the 3rd quarter. Pure Financial Advisors Inc. now owns 11,846 shares of the company’s stock worth $897,000 after buying an additional 142 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO increased its stake in AbbVie by 0.3% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock valued at $3,210,000 after purchasing an additional 147 shares in the last quarter. Adirondack Trust Co. increased its stake in AbbVie by 1.2% in the 3rd quarter. Adirondack Trust Co. now owns 12,569 shares of the company’s stock valued at $952,000 after purchasing an additional 150 shares in the last quarter. Weatherly Asset Management L. P. increased its stake in AbbVie by 1.8% in the 2nd quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock valued at $605,000 after purchasing an additional 151 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in AbbVie by 4.2% in the 2nd quarter. Golden State Wealth Management LLC now owns 3,833 shares of the company’s stock valued at $278,000 after purchasing an additional 153 shares in the last quarter. 68.14% of the stock is owned by institutional investors and hedge funds.
In other AbbVie news, Director Roxanne S. Austin acquired 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average price of $66.35 per share, for a total transaction of $663,500.00. Following the completion of the acquisition, the director now directly owns 62,114 shares of the company’s stock, valued at $4,121,263.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Timothy J. Richmond sold 15,515 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 183,077 shares of company stock worth $10,705,751. 0.08% of the stock is owned by insiders.
NYSE:ABBV traded down $0.38 during trading hours on Friday, reaching $74.07. 4,555,792 shares of the company traded hands, compared to its average volume of 7,972,179. The firm’s 50-day moving average is $70.30 and its 200-day moving average is $73.90. The stock has a market cap of $108.71 billion, a P/E ratio of 9.36, a P/E/G ratio of 1.50 and a beta of 0.99. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $94.98.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. The firm had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. AbbVie’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.00 EPS. As a group, sell-side analysts predict that AbbVie Inc will post 8.9 EPS for the current year.
The business also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. This represents a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
Several equities analysts recently weighed in on the company. UBS Group raised AbbVie from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $85.00 to $79.00 in a research note on Thursday, September 12th. Svb Leerink raised AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Wednesday, June 26th. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Cowen set a $90.00 price objective on AbbVie and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and raised their price objective for the company from $87.00 to $90.00 in a research note on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $89.97.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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