Long Road Investment Counsel LLC Maintains Holdings in AbbVie Inc. (ABBV)
Long Road Investment Counsel LLC continued to hold its position in AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,994 shares of the company’s stock at the end of the 2nd quarter. Long Road Investment Counsel LLC’s holdings in AbbVie were worth $942,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in ABBV. Acropolis Investment Management LLC bought a new position in shares of AbbVie during the 2nd quarter valued at approximately $106,000. Hudock Capital Group LLC increased its position in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the last quarter. BDO Wealth Advisors LLC bought a new position in shares of AbbVie during the 2nd quarter valued at approximately $115,000. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of AbbVie during the 1st quarter valued at approximately $108,000. Finally, Tradewinds Capital Management LLC increased its position in shares of AbbVie by 87.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after purchasing an additional 1,057 shares during the last quarter. 69.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (NYSE ABBV) opened at $96.32 on Monday. AbbVie Inc. has a 1-year low of $58.80 and a 1-year high of $98.52. The firm has a market capitalization of $153,768.13, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.36 and a beta of 1.52. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
The company also recently announced 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. This represents a $2.84 annualized dividend and a dividend yield of 2.95%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is currently 62.29%.
Several research firms have recently weighed in on ABBV. UBS reissued a “neutral” rating on shares of AbbVie in a research report on Friday, October 13th. Jefferies Group boosted their price objective on AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a report on Monday, October 16th. Cowen restated a “hold” rating and set a $95.00 price objective (up previously from $70.00) on shares of AbbVie in a report on Monday, September 11th. Evercore ISI assumed coverage on AbbVie in a report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 price objective for the company. Finally, BMO Capital Markets restated a “hold” rating and set a $84.00 price objective on shares of AbbVie in a report on Tuesday, November 21st. Seven equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $96.72.
In related news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was 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 in the company, valued at approximately $880,616. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the sale, the senior vice president now owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. Insiders sold a total of 277,125 shares of company stock valued at $25,891,756 over the last quarter. Company insiders own 0.23% of the company’s stock.
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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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