AbbVie Inc (NYSE:ABBV) Shares Sold by Old North State Trust LLC
Old North State Trust LLC decreased its position in AbbVie Inc (NYSE:ABBV) by 17.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,031 shares of the company’s stock after selling 1,447 shares during the quarter. Old North State Trust LLC’s holdings in AbbVie were worth $532,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its position in AbbVie by 0.3% during the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock valued at $3,210,000 after buying an additional 147 shares during the period. Weatherly Asset Management L. P. raised its position in AbbVie by 1.8% during the second quarter. Weatherly Asset Management L. P. now owns 8,317 shares of the company’s stock valued at $605,000 after buying an additional 151 shares during the period. Golden State Wealth Management LLC raised its position in AbbVie by 4.2% during the second quarter. Golden State Wealth Management LLC now owns 3,833 shares of the company’s stock valued at $278,000 after buying an additional 153 shares during the period. BTIM Corp. raised its position in AbbVie by 0.6% during the second quarter. BTIM Corp. now owns 27,263 shares of the company’s stock valued at $1,983,000 after buying an additional 154 shares during the period. Finally, Verus Financial Partners Inc. raised its position in AbbVie by 5.9% during the second quarter. Verus Financial Partners Inc. now owns 2,786 shares of the company’s stock valued at $203,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 68.14% of the company’s stock.
Several research analysts recently weighed in on ABBV shares. Wolfe Research raised AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Piper Jaffray Companies upped their price target on AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, September 4th. Citigroup raised AbbVie from a “neutral” rating to a “buy” rating and upped their price target for the company from $87.00 to $90.00 in a research report on Thursday, September 26th. TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Finally, Leerink Swann raised AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $89.97.
ABBV stock traded down $0.23 during mid-day trading on Wednesday, hitting $73.30. The stock had a trading volume of 5,854,407 shares, compared to its average volume of 8,000,455. AbbVie Inc has a 1-year low of $62.66 and a 1-year high of $95.39. The company has a fifty day moving average of $70.00 and a 200 day moving average of $73.97. The stock has a market capitalization of $110.38 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.52 and a beta of 0.99.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.05. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period in the prior year, the firm posted $2.00 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts anticipate that AbbVie Inc will post 8.9 earnings per share for the current year.
The company also recently announced a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a $1.07 dividend. This represents a yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s payout ratio is currently 54.11%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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