Baldwin Brothers Inc. MA Sells 2,799 Shares of AbbVie Inc. (ABBV)
Baldwin Brothers Inc. MA trimmed its stake in shares of AbbVie Inc. (NYSE:ABBV) by 34.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,221 shares of the company’s stock after selling 2,799 shares during the quarter. Baldwin Brothers Inc. MA’s holdings in AbbVie were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ABBV. Professional Advisory Services Inc. bought a new position in shares of AbbVie during the second quarter valued at $218,000. Forte Capital LLC ADV grew its holdings in shares of AbbVie by 13.6% in the 2nd quarter. Forte Capital LLC ADV now owns 15,511 shares of the company’s stock worth $1,125,000 after purchasing an additional 1,860 shares during the last quarter. National Pension Service grew its holdings in shares of AbbVie by 12.0% in the 2nd quarter. National Pension Service now owns 1,218,446 shares of the company’s stock worth $88,313,000 after purchasing an additional 130,262 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of AbbVie in the 2nd quarter worth about $1,163,000. Finally, Fisher Asset Management LLC grew its holdings in shares of AbbVie by 0.5% in the 2nd quarter. Fisher Asset Management LLC now owns 686,519 shares of the company’s stock worth $49,780,000 after purchasing an additional 3,604 shares during the last quarter. 68.26% of the stock is currently owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) traded down 0.07% on Wednesday, reaching $89.64. 1,580,050 shares of the company’s stock were exchanged. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $90.95. The stock’s 50 day moving average is $80.54 and its 200 day moving average is $71.50. The company has a market cap of $142.89 billion, a price-to-earnings ratio of 22.05 and a beta of 1.51. AbbVie also was the recipient of some unusual options trading activity on Monday. Investors purchased 278 put options on the stock. This represents an increase of 121% compared to the average daily volume of 126 put options.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the company earned $1.26 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.85%. AbbVie’s payout ratio is presently 62.90%.
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In other news, Chairman Richard A. Gonzalez sold 87,899 shares of AbbVie stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the completion of the transaction, the chairman now directly owns 342,353 shares in the company, valued at $24,313,910.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the sale, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Insiders have sold a total of 379,890 shares of company stock worth $27,187,817 in the last quarter. 0.23% of the stock is owned by corporate insiders.
Several equities analysts recently issued reports on the stock. Piper Jaffray Companies reissued a “buy” rating and set a $85.00 price target on shares of AbbVie in a report on Thursday, August 3rd. UBS AG cut shares of AbbVie from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $79.00 to $92.00 in a research note on Monday, September 25th. Leerink Swann raised shares of AbbVie from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $89.00 to $106.00 in a research note on Monday. Evercore ISI began coverage on shares of AbbVie in a report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 price objective for the company. Finally, Argus raised their price objective on shares of AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Nine investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and a consensus target price of $89.90.
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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