HighVista Strategies LLC Sells 2,500 Shares of AbbVie Inc. (NYSE:ABBV)
HighVista Strategies LLC lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 18.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,000 shares of the company’s stock after selling 2,500 shares during the period. HighVista Strategies LLC’s holdings in AbbVie were worth $717,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Toth Financial Advisory Corp increased its stake in shares of AbbVie by 2.6% in the first quarter. Toth Financial Advisory Corp now owns 61,012 shares of the company’s stock valued at $3,976,000 after buying an additional 1,536 shares in the last quarter. Orbis Allan Gray Ltd increased its stake in AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock worth $343,496,000 after buying an additional 579,378 shares during the period. Iowa State Bank increased its stake in AbbVie by 3.6% in the first quarter. Iowa State Bank now owns 71,888 shares of the company’s stock worth $4,684,000 after buying an additional 2,496 shares during the period. Dynamic Advisors Solutions LLC increased its stake in AbbVie by 680.0% in the first quarter. Dynamic Advisors Solutions LLC now owns 69,407 shares of the company’s stock worth $4,523,000 after buying an additional 60,509 shares during the period. Finally, Alerus Financial NA increased its stake in AbbVie by 0.8% in the first quarter. Alerus Financial NA now owns 35,236 shares of the company’s stock worth $2,296,000 after buying an additional 273 shares during the period. Institutional investors own 67.89% of the company’s stock.
Shares of AbbVie Inc. (ABBV) traded down 0.85% during mid-day trading on Thursday, hitting $71.41. 535,885 shares of the company’s stock traded hands. The firm has a 50-day moving average of $72.15 and a 200 day moving average of $66.67. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04. The company has a market cap of $113.83 billion, a PE ratio of 17.56 and a beta of 1.50. AbbVie also was the recipient of some unusual options trading activity on Monday. Stock traders purchased 278 put options on the stock. This is an increase of approximately 121% compared to the average daily volume of 126 put options.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) 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 150.27%. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter last year, the firm earned $1.26 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts predict that AbbVie Inc. will post $5.52 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Wednesday, July 12th. AbbVie’s dividend payout ratio is presently 62.90%.
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A number of research firms recently weighed in on ABBV. BMO Capital Markets reissued a “hold” rating and set a $63.00 target price on shares of AbbVie in a research report on Tuesday, April 18th. Piper Jaffray Companies reissued a “buy” rating and set a $85.00 target price on shares of AbbVie in a research report on Thursday, August 3rd. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $72.72 target price on the stock. in a research report on Wednesday, June 14th. Leerink Swann reissued a “market perform” rating on shares of AbbVie in a research report on Thursday, June 22nd. Finally, BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and an average target price of $74.66.
In related news, CFO William J. Chase sold 38,300 shares of AbbVie stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the completion of the transaction, the chief financial officer now owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laura J. Schumacher sold 79,800 shares of AbbVie stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the transaction, the insider now directly owns 187,625 shares of the company’s stock, valued at approximately $13,133,750. The disclosure for this sale can be found here. Insiders have sold 600,026 shares of company stock valued at $41,852,724 in the last three months. 0.23% of the stock is owned by insiders.
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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