TRUE Private Wealth Advisors Has $349,000 Stake in AbbVie Inc. (ABBV)
TRUE Private Wealth Advisors grew its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,814 shares of the company’s stock after purchasing an additional 27 shares during the period. TRUE Private Wealth Advisors’ holdings in AbbVie were worth $349,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Acropolis Investment Management LLC bought a new stake in shares of AbbVie in the second quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of AbbVie in the first quarter worth $108,000. Tradewinds Capital Management LLC increased 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 worth $148,000 after buying an additional 1,057 shares during the last quarter. Exane Asset Management bought a new stake in shares of AbbVie in the second quarter worth $181,000. Finally, Camarda Financial Advisors LLC increased its stake in shares of AbbVie by 18.5% in the second quarter. Camarda Financial Advisors LLC now owns 2,508 shares of the company’s stock worth $182,000 after buying an additional 391 shares during the last quarter. Institutional investors own 68.16% of the company’s stock.
In related news, EVP Michael Severino sold 25,633 shares of AbbVie stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the sale, the executive vice president now directly owns 114,922 shares in the company, valued at $10,881,964.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the sale, the vice president now owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,932 shares of company stock worth $5,379,432. Company insiders own 0.23% of the company’s stock.
Shares of AbbVie Inc. (ABBV) opened at $93.61 on Friday. AbbVie Inc. has a one year low of $58.60 and a one year high of $98.26. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. The firm has a market cap of $149,441.81, a PE ratio of 17.63, a P/E/G ratio of 1.30 and a beta of 1.51.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $7 billion. During the same period in the previous year, the business earned $1.21 earnings per share. The company’s revenue was up 8.8% on a year-over-year basis. research analysts predict that AbbVie Inc. will post 5.55 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s payout ratio is currently 62.29%.
A number of equities analysts have commented on ABBV shares. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $85.00 price objective on shares of AbbVie in a report on Thursday, August 3rd. Barclays PLC reaffirmed a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI reaffirmed an “outperform” rating and issued a $100.00 price objective (up previously from $95.00) on shares of AbbVie in a report on Saturday, September 30th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $66.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Eight investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $93.68.
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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