Cowen Prime Services LLC Sells 1,100 Shares of AbbVie Inc. (ABBV)
Cowen Prime Services LLC reduced its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,285 shares of the company’s stock after selling 1,100 shares during the quarter. Cowen Prime Services LLC’s holdings in AbbVie were worth $2,123,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Savant Capital LLC lifted its stake in shares of AbbVie by 1.3% during the 2nd quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after buying an additional 793 shares in the last quarter. Princeton Capital Management Inc. purchased a new stake in shares of AbbVie during the 2nd quarter valued at approximately $1,394,000. Accident Compensation Corp lifted its stake in shares of AbbVie by 24.7% during the 1st quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after buying an additional 13,100 shares in the last quarter. Investec Asset Management LTD lifted its stake in AbbVie by 3.6% in the 1st 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 lifted its stake in AbbVie by 17.9% in the 2nd 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 67.65% of the company’s stock.
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Several analysts have issued reports on ABBV shares. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a research note on Tuesday, October 17th. BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a research note on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $100.00 target price (up from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $107.00 target price (up from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $93.68.
In related 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 transaction of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares of the company’s stock, valued at approximately $7,915,276.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Michael Severino sold 25,633 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the transaction, the executive vice president now directly owns 114,922 shares in the company, valued at approximately $10,881,964.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,932 shares of company stock worth $5,379,432. 0.23% of the stock is owned by insiders.
AbbVie Inc. (NYSE ABBV) opened at $93.60 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a twelve month low of $58.60 and a twelve month high of $98.26. The company has a market cap of $149,140.00, a price-to-earnings ratio of 17.63, a P/E/G ratio of 1.30 and a beta of 1.52.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the firm earned $1.21 EPS. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. research analysts forecast that AbbVie Inc. will post 5.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 3.03%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 61.84%.
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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