Schnieders Capital Management LLC Has $2.22 Million Position in AbbVie Inc. (ABBV)
Schnieders Capital Management LLC cut its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,061 shares of the company’s stock after selling 25 shares during the period. Schnieders Capital Management LLC’s holdings in AbbVie were worth $2,219,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. First Command Financial Services Inc. boosted its stake in shares of AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of AbbVie during the fourth quarter valued at approximately $137,000. Atwood & Palmer Inc. boosted its stake in shares of AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after buying an additional 2,000 shares during the period. Tradewinds Capital Management LLC boosted its stake in shares of AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after buying an additional 1,057 shares during the period. Finally, American National Bank boosted its stake in shares of AbbVie by 13.8% in the first quarter. American National Bank now owns 2,471 shares of the company’s stock valued at $161,000 after buying an additional 299 shares during the period. 68.00% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Inc. (ABBV) opened at 70.99 on Friday. The firm’s 50-day moving average is $72.07 and its 200-day moving average is $66.31. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04. The firm has a market cap of $112.98 billion, a PE ratio of 17.46 and a beta of 1.50.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 154.76%. The company had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm posted $1.26 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $0.64 per share. The ex-dividend date is Wednesday, July 12th. This represents a $2.56 annualized dividend and a dividend yield of 3.61%. AbbVie’s dividend payout ratio (DPR) is 62.90%.
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Several analysts recently commented on the stock. Piper Jaffray Companies reiterated a “buy” rating and issued a $85.00 price objective on shares of AbbVie in a research note on Thursday. BidaskClub cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective for the company in a research note on Wednesday, July 26th. Cowen and Company set a $70.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research note on Sunday, July 30th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $74.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Thursday, July 20th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $75.35.
In other news, Director Edward J. Rapp acquired 4,000 shares of AbbVie stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $70.45 per share, with a total value of $281,800.00. Following the completion of the purchase, the director now owns 15,498 shares of the company’s stock, valued at $1,091,834.10. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura J. Schumacher sold 79,800 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the sale, the insider now directly owns 187,625 shares of the company’s stock, valued at $13,133,750. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 406,895 shares of company stock valued at $28,140,423. Insiders own 0.23% of the company’s stock.
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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