AbbVie Inc. (ABBV) Shares Sold by Smithfield Trust Co.
Smithfield Trust Co. reduced its stake in AbbVie Inc. (NYSE:ABBV) by 9.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,309 shares of the company’s stock after selling 1,414 shares during the period. Smithfield Trust Co.’s holdings in AbbVie were worth $933,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Command Financial Services Inc. boosted its position in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in AbbVie during the fourth quarter worth approximately $137,000. Atwood & Palmer Inc. boosted its position in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares in the last quarter. American National Bank boosted its position in AbbVie by 13.8% in the first quarter. American National Bank now owns 2,471 shares of the company’s stock worth $161,000 after buying an additional 299 shares in the last quarter. Finally, Cable Hill Partners LLC boosted its position in AbbVie by 7.4% in the first quarter. Cable Hill Partners LLC now owns 2,711 shares of the company’s stock worth $177,000 after buying an additional 186 shares in the last quarter. 68.04% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Inc. (NYSE:ABBV) opened at 74.01 on Friday. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $74.22. The company has a market capitalization of $117.79 billion, a PE ratio of 19.18 and a beta of 1.51. The stock’s 50 day moving average price is $71.21 and its 200-day moving average price is $65.76.
AbbVie (NYSE:ABBV) last posted its earnings results on Thursday, April 27th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. AbbVie had a net margin of 24.07% and a return on equity of 148.83%. The firm had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $6.49 billion. During the same period in the previous year, the firm posted $1.15 EPS. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts predict that AbbVie Inc. will post $5.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be issued a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.46%. AbbVie’s dividend payout ratio (DPR) is presently 66.32%.
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ABBV has been the topic of a number of research analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $63.00 target price on shares of AbbVie in a research note on Tuesday, April 18th. Leerink Swann set a $71.00 target price on AbbVie and gave the company a “hold” rating in a research note on Thursday, April 20th. Deutsche Bank AG increased their target price on AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $74.98 target price on the stock. in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of AbbVie in a research note on Friday, May 26th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. AbbVie has an average rating of “Buy” and a consensus price target of $74.52.
In related news, Chairman Richard A. Gonzalez sold 71,235 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $65.49, for a total transaction of $4,665,180.15. Following the transaction, the chairman now directly owns 349,462 shares in the company, valued at approximately $22,886,266.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura J. Schumacher sold 79,800 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the transaction, the insider now owns 187,625 shares in the company, valued at $13,133,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 278,135 shares of company stock worth $18,841,085. Insiders own 0.23% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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