Centre Asset Management LLC decreased its holdings in shares of AbbVie Inc (NYSE:ABBV) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,640 shares of the company’s stock after selling 2,960 shares during the period. Centre Asset Management LLC’s holdings in AbbVie were worth $4,979,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Financial Gravity Wealth Inc. purchased a new position in shares of AbbVie in the 1st quarter valued at about $396,000. Matarin Capital Management LLC purchased a new position in shares of AbbVie in the 1st quarter valued at about $4,146,000. Toronto Dominion Bank increased its holdings in shares of AbbVie by 24.1% in the 1st quarter. Toronto Dominion Bank now owns 911,182 shares of the company’s stock valued at $86,223,000 after acquiring an additional 177,240 shares during the last quarter. Stratos Wealth Partners LTD. increased its holdings in shares of AbbVie by 5.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 83,265 shares of the company’s stock valued at $7,881,000 after acquiring an additional 4,086 shares during the last quarter. Finally, Hanson & Doremus Investment Management increased its holdings in shares of AbbVie by 7.4% in the 1st quarter. Hanson & Doremus Investment Management now owns 7,290 shares of the company’s stock valued at $690,000 after acquiring an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 69.37% of the company’s stock.
In other AbbVie news, EVP Michael Severino sold 50,000 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $97.52, for a total transaction of $4,876,000.00. Following the completion of the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at approximately $10,871,627.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company insiders.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.13. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.23 billion. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. As a group, research analysts forecast that AbbVie Inc will post 7.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be given a dividend of $0.96 per share. The ex-dividend date is Friday, October 12th. This represents a $3.84 dividend on an annualized basis and a yield of 4.83%. AbbVie’s payout ratio is 68.57%.
ABBV has been the topic of a number of recent analyst reports. Berenberg Bank initiated coverage on AbbVie in a report on Thursday, July 12th. They issued a “hold” rating and a $105.00 price objective on the stock. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Credit Suisse Group upgraded AbbVie to a “hold” rating and set a $89.00 price objective on the stock in a report on Friday, July 13th. Jefferies Financial Group set a $100.00 target price on AbbVie and gave the company a “buy” rating in a research report on Sunday, July 15th. Finally, BMO Capital Markets reissued a “sell” rating and issued a $78.00 target price on shares of AbbVie in a research report on Friday, July 27th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $105.68.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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