LaFleur & Godfrey LLC reduced its position in AbbVie Inc. (NYSE:ABBV) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 112,044 shares of the company’s stock after selling 1,985 shares during the period. AbbVie accounts for approximately 2.1% of LaFleur & Godfrey LLC’s portfolio, making the stock its 16th largest holding. LaFleur & Godfrey LLC’s holdings in AbbVie were worth $8,124,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in ABBV. Exencial Wealth Advisors LLC increased its position in shares of AbbVie by 13.3% during the first quarter. Exencial Wealth Advisors LLC now owns 3,679 shares of the company’s stock valued at $233,000 after buying an additional 432 shares during the period. iAB Financial Bank increased its position in shares of AbbVie by 9.1% during the first quarter. iAB Financial Bank now owns 43,420 shares of the company’s stock valued at $2,829,000 after buying an additional 3,625 shares during the period. Moloney Securities Asset Management LLC increased its position in shares of AbbVie by 22.0% during the first quarter. Moloney Securities Asset Management LLC now owns 20,931 shares of the company’s stock valued at $1,364,000 after buying an additional 3,769 shares during the period. Hennessy Advisors Inc. increased its position in shares of AbbVie by 200.0% during the first quarter. Hennessy Advisors Inc. now owns 121,500 shares of the company’s stock valued at $7,917,000 after buying an additional 81,000 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its position in shares of AbbVie by 1.4% during the first quarter. Old Mutual Global Investors UK Ltd. now owns 18,168 shares of the company’s stock valued at $1,183,000 after buying an additional 256 shares during the period. Hedge funds and other institutional investors own 68.49% of the company’s stock.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. The company’s revenue for the quarter 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.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 3.15%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 62.29%.
Several brokerages have recently weighed in on ABBV. Piper Jaffray Companies reiterated a “buy” rating and set a $85.00 price target on shares of AbbVie in a research report on Thursday, August 3rd. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday. Evercore ISI began coverage on AbbVie in a research report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 price target on the stock. BidaskClub cut AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, SunTrust Banks, Inc. restated a “buy” rating and issued a $95.00 price objective on shares of AbbVie in a research report on Wednesday, September 13th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $93.68.
In related news, VP Robert A. Michael sold 6,699 shares of the business’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 transaction, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction 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 owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 314,329 shares of company stock worth $22,907,131. Corporate insiders own 0.23% of the company’s stock.
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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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