Woodstock Corp Sells 560 Shares of AbbVie Inc (ABBV)

Woodstock Corp lowered its position in shares of AbbVie Inc (NYSE:ABBV) by 0.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,776 shares of the company’s stock after selling 560 shares during the period. AbbVie makes up about 1.4% of Woodstock Corp’s investment portfolio, making the stock its 24th largest position. Woodstock Corp’s holdings in AbbVie were worth $8,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ABBV. Morgan Stanley increased its stake in shares of AbbVie by 3.2% in the second quarter. Morgan Stanley now owns 11,134,470 shares of the company’s stock worth $1,031,608,000 after buying an additional 348,882 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of AbbVie by 15.9% in the second quarter. Janus Henderson Group PLC now owns 5,243,956 shares of the company’s stock worth $485,867,000 after buying an additional 717,452 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of AbbVie by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,824,617 shares of the company’s stock worth $447,001,000 after buying an additional 157,594 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of AbbVie by 8.5% in the first quarter. Franklin Resources Inc. now owns 4,359,665 shares of the company’s stock worth $412,643,000 after buying an additional 340,709 shares during the last quarter. Finally, Aristotle Capital Management LLC increased its stake in shares of AbbVie by 0.9% in the first quarter. Aristotle Capital Management LLC now owns 3,787,873 shares of the company’s stock worth $358,522,000 after buying an additional 34,727 shares during the last quarter. Institutional investors own 69.37% of the company’s stock.

In other AbbVie news, EVP Michael Severino sold 50,000 shares of the business’s stock in a transaction on Friday, August 17th. The shares were 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 owns 111,481 shares in the company, valued at $10,871,627.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by insiders.

A number of brokerages recently issued reports on ABBV. Credit Suisse Group set a $85.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Friday. Wolfe Research began coverage on shares of AbbVie in a research note on Tuesday, October 23rd. They issued an “underperform” rating for the company. SunTrust Banks dropped their price target on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. ValuEngine lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, Bank of America dropped their price target on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. AbbVie currently has a consensus rating of “Hold” and an average price target of $105.68.

ABBV stock opened at $79.56 on Friday. The company has a debt-to-equity ratio of 8.70, a current ratio of 0.80 and a quick ratio of 0.71. AbbVie Inc has a 1-year low of $77.50 and a 1-year high of $125.86. The firm has a market cap of $120.48 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 0.79 and a beta of 1.62.

AbbVie (NYSE:ABBV) last released its earnings results on Friday, November 2nd. The company reported $2.14 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.13. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $8.23 billion. During the same quarter in the previous year, the firm earned $1.41 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. Equities research analysts predict that AbbVie Inc will post 7.91 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, October 15th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 annualized dividend and a yield of 4.83%. AbbVie’s payout ratio is 68.57%.

About AbbVie

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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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