Harvest Capital Management Inc Sells 150 Shares of AbbVie Inc. (ABBV)
Harvest Capital Management Inc lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,659 shares of the company’s stock after selling 150 shares during the quarter. Harvest Capital Management Inc’s holdings in AbbVie were worth $265,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Acropolis Investment Management LLC bought a new stake in AbbVie during the 2nd quarter valued at $106,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie during the 1st quarter valued at $108,000. Atwood & Palmer Inc. boosted its position in AbbVie by 1,333.3% during the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after acquiring an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in AbbVie by 87.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Shamrock Asset Management LLC bought a new stake in AbbVie during the 1st quarter valued at $183,000. 68.25% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on ABBV. Piper Jaffray Companies reaffirmed a “buy” rating and set a $100.00 target price on shares of AbbVie in a research report on Friday, September 15th. Jefferies Group LLC reiterated a “buy” rating and set a $107.00 price objective (up previously from $94.00) on shares of AbbVie in a report on Friday, September 15th. Deutsche Bank AG increased their price objective on AbbVie to $88.00 and gave the company a “hold” rating in a report on Thursday. Morgan Stanley increased their price objective on AbbVie from $70.00 to $95.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Argus increased their price objective on AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $86.37.
In related news, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 379,890 shares of company stock valued at $27,187,817. 0.23% of the stock is owned by corporate insiders.
Shares of AbbVie Inc. (ABBV) traded down 0.11% during trading on Friday, reaching $88.86. The company had a trading volume of 6,769,367 shares. The firm has a 50-day moving average of $75.76 and a 200 day moving average of $69.87. The firm has a market capitalization of $141.65 billion, a PE ratio of 21.85 and a beta of 1.48. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $89.69.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The firm had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the previous year, the company earned $1.26 earnings per share. AbbVie’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a $0.64 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a yield of 2.88%. AbbVie’s dividend payout ratio (DPR) is presently 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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