Blue Fin Capital Inc. lessened its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 15,178 shares of the company’s stock after selling 922 shares during the period. Blue Fin Capital Inc.’s holdings in AbbVie were worth $1,100,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bingham Osborn & Scarborough LLC grew its holdings in AbbVie by 9.1% during the 2nd quarter. Bingham Osborn & Scarborough LLC now owns 21,119 shares of the company’s stock worth $1,531,000 after acquiring an additional 1,754 shares during the period. Signature Financial Management Inc. boosted its position in shares of AbbVie by 25.2% during the second quarter. Signature Financial Management Inc. now owns 5,598 shares of the company’s stock worth $407,000 after purchasing an additional 1,127 shares in the last quarter. Westchester Capital Management Inc. boosted its position in shares of AbbVie by 1.7% during the second quarter. Westchester Capital Management Inc. now owns 147,343 shares of the company’s stock worth $10,684,000 after purchasing an additional 2,509 shares in the last quarter. UMB Bank N A MO boosted its position in shares of AbbVie by 143.9% during the second quarter. UMB Bank N A MO now owns 120,881 shares of the company’s stock worth $8,765,000 after purchasing an additional 71,326 shares in the last quarter. Finally, Abbrea Capital LLC boosted its position in shares of AbbVie by 2.9% during the second quarter. Abbrea Capital LLC now owns 28,735 shares of the company’s stock worth $2,084,000 after purchasing an additional 800 shares in the last quarter. 68.49% of the stock is owned by hedge funds and other institutional investors.
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Shares of AbbVie Inc. (NYSE ABBV) opened at $92.31 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 5.63. The stock has a market capitalization of $145.09 billion, a P/E ratio of 17.14, a PEG ratio of 1.24 and a beta of 1.51.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a net margin of 24.38% and a return on equity of 164.66%. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.21 EPS. equities analysts anticipate that AbbVie Inc. will post 5.55 EPS for the current year.
The company 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 dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 3.08%. AbbVie’s payout ratio is currently 62.29%.
A number of brokerages have recently weighed in on ABBV. Zacks Investment Research cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Wednesday. SunTrust Banks, Inc. reissued a “buy” rating on shares of AbbVie in a research report on Monday, October 30th. Leerink Swann reduced their price target on shares of AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a research report on Monday, October 30th. BMO Capital Markets set a $66.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Piper Jaffray Companies lifted their price target on shares of AbbVie to $115.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $93.68.
In other news, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the transaction, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Insiders have sold a total of 226,430 shares of company stock worth $16,664,544 over the last 90 days. 0.23% of the stock is owned by company insiders.
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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