AbbVie Inc. (ABBV) Stake Reduced by Compton Capital Management Inc. RI
Compton Capital Management Inc. RI decreased its stake in AbbVie Inc. (NYSE:ABBV) by 4.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,140 shares of the company’s stock after selling 1,300 shares during the period. Compton Capital Management Inc. RI’s holdings in AbbVie were worth $1,742,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. Iberiabank Corp boosted its stake in shares of AbbVie by 5.1% in the first quarter. Iberiabank Corp now owns 73,590 shares of the company’s stock worth $4,203,000 after buying an additional 3,560 shares during the period. CrestPoint Capital Management LLC boosted its stake in shares of AbbVie by 17.7% in the first quarter. CrestPoint Capital Management LLC now owns 7,300 shares of the company’s stock worth $417,000 after buying an additional 1,100 shares during the period. First Hawaiian Bank boosted its stake in shares of AbbVie by 8.0% in the first quarter. First Hawaiian Bank now owns 12,540 shares of the company’s stock worth $716,000 after buying an additional 926 shares during the period. Coastline Trust Co boosted its stake in shares of AbbVie by 3.7% in the first quarter. Coastline Trust Co now owns 13,486 shares of the company’s stock worth $770,000 after buying an additional 485 shares during the period. Finally, Woodford Investment Management LLP boosted its stake in shares of AbbVie by 25.8% in the first quarter. Woodford Investment Management LLP now owns 11,063,300 shares of the company’s stock worth $631,936,000 after buying an additional 2,269,300 shares during the period. 68.36% of the stock is owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.65% during trading on Monday, hitting $62.66. The stock had a trading volume of 2,161,645 shares. The firm has a market capitalization of $102.04 billion, a P/E ratio of 18.07 and a beta of 1.50. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12. The stock’s 50-day moving average price is $64.69 and its 200 day moving average price is $62.29.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.06. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 EPS. On average, analysts anticipate that AbbVie Inc. will post $4.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.57 per share. The ex-dividend date is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.62%. AbbVie’s dividend payout ratio is 65.71%.
A number of research firms have recently weighed in on ABBV. Credit Suisse Group AG restated a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Vetr lowered AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 target price on the stock. in a report on Thursday, June 16th. BMO Capital Markets lowered AbbVie from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $70.00 to $66.00 in a report on Friday, June 10th. Argus restated a “buy” rating and issued a $85.00 target price on shares of AbbVie in a report on Monday, August 8th. Finally, Deutsche Bank AG restated a “hold” rating on shares of AbbVie in a report on Tuesday, June 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and an average target price of $70.68.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the sale, the insider now directly owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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