Vantage Financial Partners Ltd. Inc. Cuts Stake in AbbVie Inc (ABBV)
Vantage Financial Partners Ltd. Inc. decreased its stake in AbbVie Inc (NYSE:ABBV) by 55.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,000 shares of the company’s stock after selling 4,880 shares during the quarter. Vantage Financial Partners Ltd. Inc.’s holdings in AbbVie were worth $356,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Savant Capital LLC lifted its stake in AbbVie by 1.3% in the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after buying an additional 793 shares during the period. Princeton Capital Management Inc. acquired a new stake in shares of AbbVie during the second quarter worth about $1,394,000. Palisade Asset Management LLC raised its position in shares of AbbVie by 17.9% during the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock worth $4,953,000 after purchasing an additional 10,381 shares during the period. Beaton Management Co. Inc. acquired a new stake in shares of AbbVie during the second quarter worth about $528,000. Finally, Greatmark Investment Partners Inc. raised its position in shares of AbbVie by 3.7% during the second quarter. Greatmark Investment Partners Inc. now owns 35,178 shares of the company’s stock worth $2,551,000 after purchasing an additional 1,242 shares during the period. 69.19% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Inc (ABBV) opened at $100.34 on Monday. 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 stock has a market capitalization of $160,185.78, a PE ratio of 24.41, a P/E/G ratio of 1.20 and a beta of 1.52. AbbVie Inc has a fifty-two week low of $59.27 and a fifty-two week high of $101.28.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 during 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%. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. analysts anticipate that AbbVie Inc will post 5.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.83%. AbbVie’s dividend payout ratio (DPR) is presently 69.10%.
In other news, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $98.45, for a total transaction of $8,569,088.00. Following the completion of the transaction, the senior vice president now directly owns 113,118 shares in the company, valued at approximately $11,136,467.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is owned by corporate insiders.
A number of equities research analysts have recently commented on ABBV shares. Evercore ISI reaffirmed 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. Societe Generale raised their price target on AbbVie in a research report on Tuesday, November 21st. BMO Capital Markets set a $84.00 price target on AbbVie and gave the stock a “hold” rating in a research report on Thursday. Jefferies Group raised their price target on AbbVie from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Finally, Barclays reaffirmed a “hold” rating and set a $68.00 price target on shares of AbbVie in a research report on Thursday, September 28th. Seven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $100.94.
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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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