Enterprise Financial Services Corp reduced its position in shares of AbbVie Inc (NYSE:ABBV) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,231 shares of the company’s stock after selling 850 shares during the period. AbbVie comprises approximately 0.8% of Enterprise Financial Services Corp’s portfolio, making the stock its 26th largest position. Enterprise Financial Services Corp’s holdings in AbbVie were worth $1,620,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in ABBV. Bristlecone Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth $113,000. Acropolis Investment Management LLC acquired a new stake in AbbVie during the 2nd quarter worth $106,000. Ffcm LLC raised its stake in AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares in the last quarter. Hudock Capital Group LLC raised its stake in AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares in the last quarter. Finally, Hershey Trust Co. acquired a new stake in AbbVie during the 3rd quarter worth $139,000. 69.18% of the stock is owned by institutional investors and hedge funds.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Timothy J. Richmond sold 87,040 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the transaction, the senior vice president now owns 113,118 shares in the company, valued at $11,136,467.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 494,676 shares of company stock worth $47,237,938. Company insiders own 0.23% of the company’s stock.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates 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 153.80%. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 earnings per share. equities research analysts anticipate that AbbVie Inc will post 5.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.71 dividend. 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 dividend on an annualized basis and a yield of 2.86%. AbbVie’s payout ratio is currently 62.14%.
ABBV has been the topic of several research analyst reports. Evercore ISI reiterated an “outperform” rating and set a $100.00 price target (up from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Societe Generale lifted their price target on shares of AbbVie in a research note on Tuesday, November 21st. Jefferies Group lifted their price target on shares of AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays reiterated a “hold” rating and set a $68.00 price target on shares of AbbVie in a research note on Thursday, September 28th. Finally, ValuEngine lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. AbbVie has an average rating of “Buy” and an average price target of $100.94.
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AbbVie Company Profile
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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