7,500 Shares in AbbVie Inc (ABBV) Acquired by Ardsley Advisory Partners
Ardsley Advisory Partners acquired a new stake in AbbVie Inc (NYSE:ABBV) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 7,500 shares of the company’s stock, valued at approximately $544,000.
Other large investors have also recently modified their holdings of the company. Bogart Wealth LLC increased its stake in AbbVie by 36.2% during the 2nd quarter. Bogart Wealth LLC now owns 24,439 shares of the company’s stock valued at $1,772,000 after buying an additional 6,491 shares during the period. MPS Loria Financial Planners LLC acquired a new position in AbbVie during the 2nd quarter valued at about $1,581,000. Frontier Investment Mgmt Co. increased its stake in AbbVie by 34.8% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 9,979 shares of the company’s stock valued at $724,000 after buying an additional 2,574 shares during the period. W. E. Donoghue & Co. LLC acquired a new position in AbbVie during the 2nd quarter valued at about $16,696,000. Finally, Intl Fcstone Inc. increased its stake in AbbVie by 188.4% during the 2nd quarter. Intl Fcstone Inc. now owns 30,430 shares of the company’s stock valued at $2,206,000 after buying an additional 19,878 shares during the period. Hedge funds and other institutional investors own 69.32% of the company’s stock.
Several equities analysts have commented on the stock. Leerink Swann set a $106.00 target price on shares of AbbVie and gave the company a “buy” rating in a research note on Tuesday, December 5th. UBS cut shares of AbbVie from a “buy” rating to a “neutral” rating and raised their target price for the company from $79.00 to $92.00 in a research note on Monday, September 25th. SunTrust Banks reissued a “buy” rating and set a $95.00 target price on shares of AbbVie in a research note on Wednesday, September 13th. Argus raised their target price on shares of AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Finally, Jefferies Group reissued a “buy” rating and set a $107.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Seven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $97.96.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. research analysts expect that AbbVie Inc will post 5.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.91%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 62.29%.
In other news, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction that occurred 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 transaction, the insider now directly owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the transaction, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders sold a total of 414,335 shares of company stock worth $39,258,362 in the last ninety days. Corporate insiders own 0.23% of the company’s stock.
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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