AbbVie Inc. (ABBV) Holdings Maintained by Fernwood Investment Management LLC
Fernwood Investment Management LLC maintained its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,505 shares of the company’s stock at the end of the second quarter. AbbVie comprises about 0.9% of Fernwood Investment Management LLC’s portfolio, making the stock its 28th biggest position. Fernwood Investment Management LLC’s holdings in AbbVie were worth $1,269,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of ABBV. Savant Capital LLC increased its holdings in AbbVie by 1.3% in the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock worth $4,433,000 after purchasing an additional 793 shares in the last quarter. Princeton Capital Management Inc. bought a new stake in AbbVie in the second quarter worth approximately $1,394,000. Accident Compensation Corp increased its holdings in AbbVie by 24.7% in the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock worth $4,314,000 after purchasing an additional 13,100 shares in the last quarter. Investec Asset Management LTD increased its holdings in AbbVie by 3.6% in the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock worth $10,880,000 after purchasing an additional 5,801 shares in the last quarter. Finally, Palisade Asset Management LLC increased its holdings in AbbVie by 17.9% in the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after purchasing an additional 10,381 shares in the last quarter. Institutional investors own 68.52% of the company’s stock.
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AbbVie Inc. (ABBV) opened at $93.96 on Wednesday. The company has a debt-to-equity ratio of 5.63, a current ratio of 1.38 and a quick ratio of 1.25. AbbVie Inc. has a 1 year low of $56.63 and a 1 year high of $98.26. The firm has a market capitalization of $148,187.06, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 1.29 and a beta of 1.51.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. equities analysts expect that AbbVie Inc. will post 5.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.71 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a yield of 3.02%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 62.29%.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. In the last three months, insiders sold 33,299 shares of company stock worth $2,952,243. Insiders own 0.23% of the company’s stock.
A number of equities research analysts have weighed in on ABBV shares. Zacks Investment Research upgraded AbbVie from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 price objective (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Deutsche Bank AG reissued a “hold” rating and issued a $66.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. Credit Suisse Group reissued a “neutral” rating and issued a $74.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Finally, Vetr cut AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price objective for the company. in a research note on Thursday, July 20th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $93.68.
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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