Polianta Ltd Makes New $1.20 Million Investment in AbbVie Inc (NYSE:ABBV)
Polianta Ltd bought a new position in AbbVie Inc (NYSE:ABBV) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 15,800 shares of the company’s stock, valued at approximately $1,196,000. AbbVie comprises approximately 0.8% of Polianta Ltd’s portfolio, making the stock its 16th biggest holding.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Lavaca Capital LLC increased its position in shares of AbbVie by 69.2% during the 2nd quarter. Lavaca Capital LLC now owns 49,404 shares of the company’s stock valued at $3,593,000 after purchasing an additional 20,213 shares during the last quarter. Horseman Capital Management Ltd increased its position in shares of AbbVie by 45.5% during the 2nd quarter. Horseman Capital Management Ltd now owns 16,000 shares of the company’s stock valued at $1,164,000 after purchasing an additional 5,000 shares during the last quarter. Ironwood Investment Counsel LLC increased its position in shares of AbbVie by 7.9% during the 2nd quarter. Ironwood Investment Counsel LLC now owns 9,171 shares of the company’s stock valued at $666,000 after purchasing an additional 675 shares during the last quarter. Cedar Wealth Management LLC bought a new position in shares of AbbVie during the 2nd quarter valued at about $44,000. Finally, Ballentine Partners LLC increased its position in shares of AbbVie by 52.1% during the 2nd quarter. Ballentine Partners LLC now owns 12,168 shares of the company’s stock valued at $886,000 after purchasing an additional 4,169 shares during the last quarter. Institutional investors and hedge funds own 68.14% of the company’s stock.
In other AbbVie news, EVP Henry O. Gosebruch acquired 30,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was acquired at an average price of $67.28 per share, for a total transaction of $2,018,400.00. Following the acquisition, the executive vice president now owns 75,763 shares in the company, valued at approximately $5,097,334.64. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy J. Richmond sold 15,515 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $75.02, for a total value of $1,163,935.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 183,077 shares of company stock worth $10,705,751. 0.08% of the stock is owned by corporate insiders.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) 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 business had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the company earned $2.00 EPS. AbbVie’s revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts forecast that AbbVie Inc will post 8.9 earnings per share for the current year.
The business also recently declared a — dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, October 11th. This represents a yield of 6.4%. AbbVie’s payout ratio is 54.11%.
Several equities analysts have recently commented on the company. Cowen set a $90.00 price objective on AbbVie and gave the company a “buy” rating in a research report on Tuesday, September 24th. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday, September 30th. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Leerink Swann upgraded AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Finally, TheStreet lowered AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $89.97.
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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