AbbVie Inc (ABBV) Shares Sold by Pekin Singer Strauss Asset Management IL
Pekin Singer Strauss Asset Management IL trimmed its holdings in AbbVie Inc (NYSE:ABBV) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,171 shares of the company’s stock after selling 712 shares during the period. Pekin Singer Strauss Asset Management IL’s holdings in AbbVie were worth $4,636,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Capital Research Global Investors lifted its stake in shares of AbbVie by 1.2% in the 2nd quarter. Capital Research Global Investors now owns 178,274,835 shares of the company’s stock valued at $12,926,708,000 after purchasing an additional 2,130,919 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of AbbVie by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 115,920,673 shares of the company’s stock valued at $8,405,409,000 after purchasing an additional 3,706,941 shares in the last quarter. BlackRock Inc. lifted its stake in shares of AbbVie by 2.0% in the 2nd quarter. BlackRock Inc. now owns 94,074,962 shares of the company’s stock valued at $6,821,375,000 after purchasing an additional 1,864,418 shares in the last quarter. Orbis Allan Gray Ltd lifted its stake in shares of AbbVie by 35.7% in the 2nd quarter. Orbis Allan Gray Ltd now owns 12,704,919 shares of the company’s stock valued at $921,233,000 after purchasing an additional 3,340,038 shares in the last quarter. Finally, Woodford Investment Management Ltd lifted its stake in shares of AbbVie by 8.6% in the 2nd quarter. Woodford Investment Management Ltd now owns 11,854,758 shares of the company’s stock valued at $859,589,000 after purchasing an additional 937,500 shares in the last quarter. 69.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AbbVie Inc (NYSE:ABBV) opened at $102.49 on Wednesday. The company has a market capitalization of $160,185.78, a PE ratio of 24.94, a P/E/G ratio of 1.20 and a beta of 1.52. 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 twelve month low of $59.27 and a twelve month high of $103.00.
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 consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. During the same period in the previous year, the business earned $1.21 EPS. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. research analysts predict that AbbVie Inc will post 5.54 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders 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 annualized dividend and a yield of 2.77%. AbbVie’s payout ratio is currently 69.10%.
In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of AbbVie stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the sale, the insider now directly owns 81,287 shares in the company, valued at approximately $7,360,537.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chairman now owns 492,030 shares in the company, valued at $46,255,740.30. The disclosure for this sale can be found here. Insiders have sold a total of 494,676 shares of company stock worth $47,237,938 over the last 90 days. 0.23% of the stock is owned by company insiders.
ABBV has been the topic of several research analyst reports. Societe Generale lifted their price objective on AbbVie in a research note on Tuesday, November 21st. Jefferies Group reaffirmed a “buy” rating and issued a $107.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. Argus raised their target price on AbbVie from $90.00 to $110.00 and gave the company a “buy” rating in a report on Friday, September 29th. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Tuesday, October 17th. Finally, BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Seven equities research 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 stock. AbbVie has a consensus 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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