AbbVie Inc. (ABBV) Stake Lowered by B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund
B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund reduced its stake in AbbVie Inc. (NYSE:ABBV) by 7.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 47,150 shares of the company’s stock after selling 3,829 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in AbbVie were worth $3,072,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. First Command Financial Services Inc. lifted its holdings in AbbVie by 6.8% during the 1st 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. Atwood & Palmer Inc. increased its position in shares of AbbVie by 1,333.3% in the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after purchasing an additional 2,000 shares during the last quarter. Tradewinds Capital Management LLC increased its position in shares of AbbVie by 87.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after purchasing an additional 1,057 shares during the last quarter. American National Bank increased its position in shares of AbbVie by 13.8% in the 1st quarter. American National Bank now owns 2,471 shares of the company’s stock valued at $161,000 after purchasing an additional 299 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of AbbVie in the 1st quarter valued at approximately $183,000. Hedge funds and other institutional investors own 68.29% of the company’s stock.
ABBV has been the topic of a number of recent analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 price objective (up from $92.00) on shares of AbbVie in a research report on Monday, July 17th. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 price objective on the stock. in a research report on Monday, May 15th. Societe Generale raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 price objective on shares of AbbVie in a research report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. AbbVie has a consensus rating of “Buy” and an average target price of $79.25.
In other AbbVie news, 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 value of $5,586,000.00. Following the completion of the sale, the insider now directly owns 187,625 shares of the company’s stock, valued at approximately $13,133,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Carlos Alban sold 45,800 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 $3,206,000.00. Following the completion of the sale, the executive vice president now directly owns 160,545 shares of the company’s stock, valued at $11,238,150. The disclosure for this sale can be found here. Insiders sold a total of 490,491 shares of company stock valued at $34,684,639 over the last three months. 0.23% of the stock is owned by corporate insiders.
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Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.89% during mid-day trading on Tuesday, hitting $87.77. 4,219,076 shares of the company traded hands. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $87.97. The firm has a market cap of $139.91 billion, a price-to-earnings ratio of 21.59 and a beta of 1.48. The firm has a 50-day moving average price of $72.68 and a 200 day moving average price of $68.66.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 earnings per share. Equities research analysts anticipate that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is currently 62.90%.
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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