Exxonmobil Investment Management Inc. TX Lowers Position in AbbVie Inc. (ABBV)
Exxonmobil Investment Management Inc. TX lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 415,825 shares of the company’s stock after selling 2,829 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in AbbVie were worth $26,226,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Catawba Capital Management VA boosted its stake in shares of AbbVie by 1.3% in the third quarter. Catawba Capital Management VA now owns 40,577 shares of the company’s stock worth $2,559,000 after buying an additional 535 shares during the period. Stokes & Hubbell Capital Management LLC boosted its stake in shares of AbbVie by 0.4% in the third quarter. Stokes & Hubbell Capital Management LLC now owns 34,888 shares of the company’s stock worth $2,200,000 after buying an additional 127 shares during the period. Pure Financial Advisors Inc. boosted its stake in shares of AbbVie by 0.7% in the third quarter. Pure Financial Advisors Inc. now owns 10,622 shares of the company’s stock worth $670,000 after buying an additional 76 shares during the period. Bremer Trust National Association boosted its stake in shares of AbbVie by 8.3% in the third quarter. Bremer Trust National Association now owns 15,706 shares of the company’s stock worth $990,000 after buying an additional 1,209 shares during the period. Finally, First American Bank boosted its stake in shares of AbbVie by 3.3% in the third quarter. First American Bank now owns 209,559 shares of the company’s stock worth $13,217,000 after buying an additional 6,674 shares during the period. 66.67% of the stock is owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) traded down 1.62% on Monday, reaching $59.53. 3,020,080 shares of the company’s stock traded hands. The stock has a market capitalization of $96.74 billion, a PE ratio of 16.09 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’s 50-day moving average is $60.51 and its 200 day moving average is $62.73.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 28th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.01. The company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.55 billion. AbbVie had a net margin of 24.08% and a return on equity of 150.77%. The business’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $1.13 EPS. Analysts forecast that AbbVie Inc. will post $4.82 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 4.23%. This is a positive change 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%.
A number of equities analysts have weighed in on the stock. Barclays PLC reissued an “equal weight” rating and issued a $68.00 price objective on shares of AbbVie in a research report on Tuesday, August 2nd. Jefferies Group reissued a “buy” rating on shares of AbbVie in a research report on Thursday, August 4th. Argus reissued a “buy” rating and issued a $85.00 price objective on shares of AbbVie in a research report on Monday, August 8th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $78.00 price objective on shares of AbbVie in a research report on Thursday, September 8th. Finally, JPMorgan Chase & Co. cut shares of AbbVie from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $75.00 to $73.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $69.82.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the sale, the insider now directly owns 144,138 shares in the company, valued at approximately $9,368,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by company insiders.
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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