Cwm LLC Has $5.30 Million Holdings in AbbVie Inc (ABBV)
Cwm LLC cut its stake in AbbVie Inc (NYSE:ABBV) by 21.3% in the 4th quarter, HoldingsChannel reports. The fund owned 54,758 shares of the company’s stock after selling 14,839 shares during the quarter. Cwm LLC’s holdings in AbbVie were worth $5,296,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Convergence Investment Partners LLC raised its holdings in shares of AbbVie by 6.4% during the 4th quarter. Convergence Investment Partners LLC now owns 113,543 shares of the company’s stock worth $10,981,000 after buying an additional 6,810 shares in the last quarter. Oakmont Partners LLC acquired a new position in shares of AbbVie during the 4th quarter worth $276,000. KCS Wealth Advisory acquired a new position in shares of AbbVie during the 4th quarter worth $400,000. Nadler Financial Group Inc. raised its holdings in shares of AbbVie by 6.3% during the 4th quarter. Nadler Financial Group Inc. now owns 11,847 shares of the company’s stock worth $1,146,000 after buying an additional 703 shares in the last quarter. Finally, Trellis Advisors LLC acquired a new position in shares of AbbVie during the 4th quarter worth $209,000. 69.49% of the stock is owned by hedge funds and other institutional investors.
In other AbbVie news, VP Robert A. Michael sold 4,294 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $119.43, for a total value of $512,832.42. Following the sale, the vice president now owns 11,170 shares in the company, valued at approximately $1,334,033.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO William J. Chase sold 70,928 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $117.18, for a total value of $8,311,343.04. Following the completion of the sale, the chief financial officer now owns 203,391 shares in the company, valued at approximately $23,833,357.38. The disclosure for this sale can be found here. Insiders sold a total of 443,747 shares of company stock worth $47,226,935 in the last quarter. Corporate insiders own 0.23% of the company’s stock.
Shares of AbbVie Inc (NYSE ABBV) opened at $115.04 on Friday. The firm has a market capitalization of $182,680.42, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.09 and a beta of 1.52. AbbVie Inc has a 52-week low of $62.83 and a 52-week high of $125.86. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The business had revenue of $7.74 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the previous year, the company posted $1.20 EPS. AbbVie’s quarterly revenue was up 13.9% compared to the same quarter last year. analysts forecast that AbbVie Inc will post 7.48 earnings per share for the current fiscal year.
AbbVie announced that its board has approved a share repurchase plan on Thursday, February 15th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, April 12th. This is a positive change from AbbVie’s previous quarterly dividend of $0.71. AbbVie’s payout ratio is 86.32%.
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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