AbbVie Inc. (ABBV) Shares Sold by Park National Corp OH
Park National Corp OH decreased its stake in AbbVie Inc. (NYSE:ABBV) by 1.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 252,506 shares of the company’s stock after selling 2,517 shares during the period. Park National Corp OH’s holdings in AbbVie were worth $15,925,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ABBV. Capital Research Global Investors raised its stake in shares of AbbVie by 100.6% in the second quarter. Capital Research Global Investors now owns 152,718,713 shares of the company’s stock valued at $9,439,710,000 after buying an additional 76,593,054 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in shares of AbbVie during the first quarter valued at approximately $281,766,000. Ameriprise Financial Inc. raised its stake in shares of AbbVie by 52.4% in the second quarter. Ameriprise Financial Inc. now owns 10,364,784 shares of the company’s stock valued at $641,739,000 after buying an additional 3,562,980 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of AbbVie during the second quarter valued at approximately $93,942,000. Finally, Capital World Investors raised its stake in shares of AbbVie by 28.4% in the second quarter. Capital World Investors now owns 6,165,592 shares of the company’s stock valued at $379,675,000 after buying an additional 1,365,592 shares during the last quarter. Hedge funds and other institutional investors own 68.46% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded down 1.91% during midday trading on Friday, reaching $60.52. 7,023,246 shares of the company’s stock were exchanged. The stock has a market cap of $98.35 billion, a P/E ratio of 16.36 and a beta of 1.55. The firm’s 50-day moving average is $61.23 and its 200 day moving average is $62.77. AbbVie Inc. has a 1-year low of $50.71 and a 1-year high of $68.12.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 28th. The company reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. The business earned $6.43 billion during the quarter, compared to the consensus estimate of $6.55 billion. AbbVie had a net margin of 24.08% and a return on equity of 150.77%. AbbVie’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.13 earnings per share. Equities analysts anticipate that AbbVie Inc. will post $4.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Friday, January 13th will be issued a dividend of $0.64 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Wednesday, January 11th. This represents a $2.56 annualized dividend and a yield of 4.23%. AbbVie’s dividend payout ratio is presently 61.62%.
ABBV has been the subject of several recent analyst reports. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.85 price objective for the company. in a report on Wednesday, November 9th. Leerink Swann reiterated a “hold” rating on shares of AbbVie in a report on Tuesday, November 8th. BMO Capital Markets reiterated a “market perform” rating and issued a $63.00 price objective on shares of AbbVie in a report on Tuesday, November 8th. Citigroup Inc. reiterated a “buy” rating on shares of AbbVie in a report on Tuesday, November 8th. Finally, Jefferies Group reiterated a “buy” rating and issued a $90.00 price objective on shares of AbbVie in a report on Tuesday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. AbbVie has a consensus rating of “Hold” and a consensus target price of $69.83.
In related news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the completion of the transaction, the insider now owns 144,138 shares in the company, valued at $9,368,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
Receive News & Stock Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related stocks with our FREE daily email newsletter.