Lincoln National Corp Sells 566 Shares of AbbVie Inc. (ABBV)
Lincoln National Corp trimmed its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,939 shares of the company’s stock after selling 566 shares during the quarter. Lincoln National Corp’s holdings in AbbVie were worth $1,446,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in ABBV. Wright Investors Service Inc. increased its holdings in AbbVie by 6.0% in the 1st quarter. Wright Investors Service Inc. now owns 41,945 shares of the company’s stock valued at $2,733,000 after buying an additional 2,360 shares during the period. Advisory Services Network LLC bought a new position in AbbVie in the 1st quarter valued at about $1,964,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in AbbVie by 5.7% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 270,960 shares of the company’s stock valued at $17,656,000 after buying an additional 14,666 shares during the period. Cliftonlarsonallen Wealth Advisors LLC increased its holdings in AbbVie by 7.2% in the 1st quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 21,889 shares of the company’s stock valued at $1,426,000 after buying an additional 1,461 shares during the period. Finally, Great West Life Assurance Co. Can increased its holdings in AbbVie by 0.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 1,642,457 shares of the company’s stock valued at $106,949,000 after buying an additional 9,709 shares during the period. 68.16% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on ABBV shares. Credit Suisse Group reissued a “neutral” rating and issued a $74.00 target price (up from $65.00) on shares of AbbVie in a report on Thursday, July 20th. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $76.28 target price on the stock. in a report on Thursday, July 20th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Cowen and Company set a $70.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Sunday, July 30th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 target price on shares of AbbVie in a report on Thursday, August 3rd. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. AbbVie currently has an average rating of “Buy” and a consensus price target of $93.68.
In other news, EVP Michael Severino sold 25,633 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the transaction, the executive vice president now owns 114,922 shares in the company, valued at approximately $10,881,964.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the transaction, the senior vice president now owns 93,099 shares in the company, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,932 shares of company stock worth $5,379,432. 0.23% of the stock is owned by corporate insiders.
Shares of AbbVie Inc. (NYSE ABBV) opened at $93.76 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a 1 year low of $58.60 and a 1 year high of $98.26. The company has a market cap of $151,261.73, a P/E ratio of 17.84, a P/E/G ratio of 1.31 and a beta of 1.51.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period last year, the company earned $1.21 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 3.03%. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
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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