GFS Advisors LLC Lowers Holdings in AbbVie Inc. (ABBV)
GFS Advisors LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 26.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,248 shares of the company’s stock after selling 3,950 shares during the period. GFS Advisors LLC’s holdings in AbbVie were worth $816,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sfmg LLC bought a new stake in shares of AbbVie in the 1st quarter worth $285,000. Sequoia Financial Advisors LLC grew its stake in shares of AbbVie by 21.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,377 shares of the company’s stock worth $285,000 after acquiring an additional 759 shares in the last quarter. Thompson Investment Management Inc. grew its stake in shares of AbbVie by 0.6% in the 1st quarter. Thompson Investment Management Inc. now owns 77,663 shares of the company’s stock worth $5,061,000 after acquiring an additional 431 shares in the last quarter. Welch Investments LLC grew its stake in shares of AbbVie by 7.0% in the 1st quarter. Welch Investments LLC now owns 63,098 shares of the company’s stock worth $4,111,000 after acquiring an additional 4,151 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of AbbVie in the 1st quarter worth $46,744,000. Hedge funds and other institutional investors own 67.65% of the company’s stock.
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AbbVie Inc. (NYSE:ABBV) opened at $93.61 on Monday. AbbVie Inc. has a 52-week low of $58.60 and a 52-week 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. The company has a market cap of $149,220.00, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (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 firm had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. During the same quarter last year, the business earned $1.21 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. equities research analysts predict that AbbVie Inc. will post 5.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be issued a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 3.03%. AbbVie’s dividend payout ratio (DPR) is currently 61.84%.
Several research firms have recently issued reports on ABBV. Piper Jaffray Companies reiterated a “buy” rating and issued a $85.00 target price on shares of AbbVie in a research note on Thursday, August 3rd. Barclays PLC restated a “hold” rating and set a $68.00 price target on shares of AbbVie in a research report on Thursday, September 28th. Evercore ISI restated an “outperform” rating and set a $100.00 price target (up previously from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. BidaskClub lowered shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, BMO Capital Markets restated a “hold” rating and set a $66.00 price target on shares of AbbVie in a research 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 issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $93.68.
In other news, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’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. Insiders sold 58,932 shares of company stock worth $5,379,432 in the last 90 days. Company insiders own 0.23% of the company’s stock.
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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