AbbVie Inc. (ABBV) Position Held by Provident Trust Co.
Provident Trust Co. maintained its position in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,978 shares of the company’s stock at the close of the 2nd quarter. AbbVie comprises approximately 0.1% of Provident Trust Co.’s portfolio, making the stock its 16th largest position. Provident Trust Co.’s holdings in AbbVie were worth $1,159,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ABBV. State Street Corp increased its position in AbbVie by 2.4% during the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after buying an additional 1,696,042 shares during the last quarter. Comerica Bank increased its position in AbbVie by 81.7% during the second quarter. Comerica Bank now owns 1,849,149 shares of the company’s stock worth $136,671,000 after buying an additional 831,625 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in AbbVie during the first quarter worth approximately $46,744,000. Bank of Nova Scotia increased its position in AbbVie by 297.9% during the first quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock worth $39,507,000 after buying an additional 453,955 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in AbbVie by 42.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,202,483 shares of the company’s stock worth $78,354,000 after buying an additional 357,353 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.
Shares of AbbVie Inc. (NYSE ABBV) opened at $94.47 on Friday. The stock has a market capitalization of $149,681.28, a P/E ratio of 17.66, a P/E/G ratio of 1.30 and a beta of 1.51. AbbVie Inc. has a 12-month low of $58.60 and a 12-month high of $98.26. The company has a debt-to-equity ratio of 5.08, a quick ratio of 1.32 and a current ratio of 1.45.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. analysts forecast that AbbVie Inc. will post 5.55 EPS for the current fiscal year.
The business also recently declared 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 of this dividend is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 3.01%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 62.29%.
In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction 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 sale, the senior vice president now directly owns 93,099 shares in the company, valued at $7,915,276.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the sale, the executive vice president now owns 114,922 shares of the company’s stock, valued at $10,881,964.18. The disclosure for this sale can be found here. Insiders have sold 58,932 shares of company stock worth $5,379,432 in the last three months. 0.23% of the stock is currently owned by company insiders.
A number of equities analysts have weighed in on the company. Piper Jaffray Companies reissued a “buy” rating and set a $85.00 price target on shares of AbbVie in a research report on Thursday, August 3rd. Evercore ISI assumed coverage on AbbVie in a research report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 price target on the stock. BidaskClub downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. SunTrust Banks, Inc. reissued a “buy” rating and set a $95.00 price target on shares of AbbVie in a research report on Wednesday, September 13th. Finally, UBS AG downgraded AbbVie from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $79.00 to $92.00 in a research report on Monday, September 25th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $93.68.
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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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