AbbVie Inc. (ABBV) Shares Sold by Loeb Partners Corp
Loeb Partners Corp reduced its position in AbbVie Inc. (NYSE:ABBV) by 1.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,630 shares of the company’s stock after selling 250 shares during the quarter. Loeb Partners Corp’s holdings in AbbVie were worth $1,133,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Wagner Bowman Management Corp grew its holdings in shares of AbbVie by 0.3% during the first quarter. Wagner Bowman Management Corp now owns 16,341 shares of the company’s stock valued at $1,064,000 after purchasing an additional 55 shares during the last quarter. Diversified Trust Co boosted its position in shares of AbbVie by 0.6% during the first quarter. Diversified Trust Co now owns 12,042 shares of the company’s stock worth $785,000 after buying an additional 69 shares during the period. Naples Global Advisors LLC boosted its position in shares of AbbVie by 1.1% during the first quarter. Naples Global Advisors LLC now owns 29,835 shares of the company’s stock worth $1,944,000 after buying an additional 322 shares during the period. V Wealth Management LLC acquired a new position in shares of AbbVie during the first quarter worth approximately $504,000. Finally, Candriam Luxembourg S.C.A. boosted its position in shares of AbbVie by 96.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 450,934 shares of the company’s stock worth $29,384,000 after buying an additional 221,678 shares during the period. 68.26% of the stock is owned by hedge funds and other institutional investors.
In other AbbVie news, Director Edward J. Rapp purchased 4,000 shares of the stock in a transaction on Monday, July 31st. The shares were purchased at an average cost of $70.45 per share, for a total transaction of $281,800.00. Following the purchase, the director now owns 15,498 shares of the company’s stock, valued at $1,091,834.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 379,890 shares of company stock worth $27,187,817. 0.23% of the stock is currently owned by company insiders.
Several equities analysts have recently issued reports on the company. Piper Jaffray Companies reiterated a “buy” rating and set a $85.00 price objective on shares of AbbVie in a research report on Thursday, August 3rd. UBS AG downgraded AbbVie from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $79.00 to $92.00 in a research report on Monday, September 25th. Leerink Swann upgraded AbbVie from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $89.00 to $106.00 in a research report on Monday, October 2nd. Evercore ISI assumed coverage on AbbVie in a research report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 price objective for the company. Finally, Argus boosted their price objective on AbbVie from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $89.90.
Shares of AbbVie Inc. (NYSE ABBV) opened at 90.49 on Monday. The firm has a market capitalization of $144.25 billion, a P/E ratio of 22.26 and a beta of 1.51. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $91.33. The firm’s 50-day moving average is $82.25 and its 200 day moving average is $71.95.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping 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 business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the business posted $1.26 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast 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 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 2.83%. AbbVie’s payout ratio is 62.90%.
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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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