Woodstock Corp Cuts Stake in AbbVie Inc. (ABBV)
Woodstock Corp lowered its position in AbbVie Inc. (NYSE:ABBV) by 1.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,401 shares of the company’s stock after selling 1,625 shares during the period. Woodstock Corp’s holdings in AbbVie were worth $6,143,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Acropolis Investment Management LLC bought a new position in AbbVie during the second quarter worth approximately $106,000. Glassman Wealth Services increased its position in shares of AbbVie by 221.1% in the second quarter. Glassman Wealth Services now owns 1,824 shares of the company’s stock valued at $113,000 after buying an additional 1,256 shares during the last quarter. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the second quarter valued at approximately $114,000. Hartford Financial Management Inc. increased its position in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares during the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in shares of AbbVie during the second quarter valued at approximately $122,000. 68.87% of the stock is owned by institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.55% during trading on Friday, hitting $60.51. The stock had a trading volume of 2,942,309 shares. The stock has a market capitalization of $98.33 billion, a price-to-earnings ratio of 16.36 and a beta of 1.55. AbbVie Inc. has a 52 week low of $50.71 and a 52 week high of $68.12. The firm has a 50 day moving average price of $60.51 and a 200-day moving average price of $62.73.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 28th. The company reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.55 billion. AbbVie had a return on equity of 150.77% and a net margin of 24.08%. AbbVie’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $1.13 EPS. On average, equities research analysts forecast that AbbVie Inc. will post $4.82 EPS for the current fiscal year.
The company also recently disclosed 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 represents a $2.56 dividend on an annualized basis and a dividend yield of 4.23%. This is a boost from AbbVie’s previous quarterly dividend of $0.57. The ex-dividend date is Wednesday, January 11th. AbbVie’s dividend payout ratio (DPR) is currently 61.62%.
ABBV has been the subject of several research analyst reports. Barclays PLC reissued an “equal weight” rating and set a $68.00 target price on shares of AbbVie in a research note on Tuesday, August 2nd. Jefferies Group reissued a “buy” rating on shares of AbbVie in a research note on Thursday, August 4th. Argus reissued a “buy” rating and set a $85.00 target price on shares of AbbVie in a research note on Monday, August 8th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $67.63 target price for the company in a research note on Thursday, August 25th. Finally, Raymond James Financial Inc. initiated coverage on AbbVie in a research note on Thursday, September 1st. They set an “outperform” rating and a $82.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $69.82.
In related news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the transaction, the insider now directly owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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.
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