WASHINGTON TRUST Co lessened its stake in shares of AbbVie Inc. (NYSE:ABBV) by 22.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,601 shares of the company’s stock after selling 18,404 shares during the period. WASHINGTON TRUST Co’s holdings in AbbVie were worth $4,684,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in AbbVie by 2.4% in the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after buying an additional 1,696,042 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in AbbVie in the first quarter worth approximately $46,744,000. Bank of Nova Scotia raised its stake in AbbVie by 297.9% in the first quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock worth $39,507,000 after buying an additional 453,955 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in AbbVie by 42.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,202,483 shares of the company’s stock worth $78,354,000 after buying an additional 357,353 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in AbbVie by 58.6% in the first quarter. AQR Capital Management LLC now owns 940,824 shares of the company’s stock worth $61,304,000 after buying an additional 347,710 shares in the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on ABBV. SunTrust Banks, Inc. reissued a “buy” rating on shares of AbbVie in a research note on Monday, October 30th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $85.00 price target on shares of AbbVie in a report on Thursday, August 3rd. Barclays PLC reaffirmed a “hold” rating and issued a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI reaffirmed an “outperform” rating and issued a $100.00 price target (up from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Finally, Leerink Swann cut their price target on shares of AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a report on Monday, October 30th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $93.68.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,299 shares of company stock worth $2,952,243. 0.23% of the stock is owned by corporate insiders.
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Shares of AbbVie Inc. (ABBV) opened at $92.31 on Monday. The firm has a market cap of $147,150.91, a price-to-earnings ratio of 17.38, a PEG ratio of 1.28 and a beta of 1.51. The company has a current ratio of 1.38, a quick ratio of 1.25 and a debt-to-equity ratio of 5.63. AbbVie Inc. has a 1-year low of $55.87 and a 1-year high of $98.26.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 164.66%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The firm’s revenue was up 8.8% on a year-over-year basis. analysts predict that AbbVie Inc. will post 5.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.08%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio is presently 62.29%.
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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