Taurus Asset Management LLC Reduces Holdings in AbbVie Inc. (ABBV)
Taurus Asset Management LLC lessened its stake in AbbVie Inc. (NYSE:ABBV) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 57,452 shares of the company’s stock after selling 300 shares during the quarter. Taurus Asset Management LLC’s holdings in AbbVie were worth $4,166,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC acquired a new position in AbbVie in the 2nd quarter valued at approximately $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in AbbVie in the 1st quarter valued at approximately $108,000. Atwood & Palmer Inc. increased its stake in 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 buying an additional 2,000 shares during the period. Tradewinds Capital Management LLC increased its stake in 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 buying an additional 1,057 shares during the period. Finally, Exane Asset Management acquired a new position in AbbVie in the 2nd quarter valued at approximately $181,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.
In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $85.02, for a total value 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 approximately $7,915,276.98. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the 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 directly owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,299 shares of company stock valued at $2,952,243. Insiders own 0.23% of the company’s stock.
ABBV has been the topic of several research reports. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Evercore ISI reiterated an “outperform” rating and issued a $100.00 price objective (up previously from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Credit Suisse Group reiterated 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. Barclays PLC reiterated a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. Finally, Cowen and Company upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $91.17 to $105.00 in a research note on Wednesday, October 11th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $93.68.
Shares of AbbVie Inc. (NYSE:ABBV) opened at $95.71 on Thursday. The company has a debt-to-equity ratio of 5.63, a quick ratio of 1.25 and a current ratio of 1.38. AbbVie Inc. has a 1-year low of $58.03 and a 1-year high of $98.26. The stock has a market cap of $150,000.56, a price-to-earnings ratio of 17.69, a P/E/G ratio of 1.30 and a beta of 1.51.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 164.66%. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. During the same period in the prior year, the firm earned $1.21 EPS. The business’s revenue was up 8.8% on a year-over-year basis. analysts anticipate that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. The ex-dividend date is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a yield of 2.97%. AbbVie’s dividend payout ratio is 62.29%.
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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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