C WorldWide Group Holding A S Has $11.90 Million Position in AbbVie Inc (ABBV)
C WorldWide Group Holding A S lessened its holdings in AbbVie Inc (NYSE:ABBV) by 12.2% during the third quarter, HoldingsChannel.com reports. The firm owned 125,780 shares of the company’s stock after selling 17,491 shares during the quarter. C WorldWide Group Holding A S’s holdings in AbbVie were worth $11,896,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of ABBV. Searle & CO. raised its position in AbbVie by 69.2% in the 2nd quarter. Searle & CO. now owns 27,874 shares of the company’s stock worth $2,583,000 after purchasing an additional 11,400 shares during the period. Inspirion Wealth Advisors LLC raised its position in AbbVie by 0.7% in the 2nd quarter. Inspirion Wealth Advisors LLC now owns 199,915 shares of the company’s stock worth $18,522,000 after purchasing an additional 1,471 shares during the period. GWM Advisors LLC raised its position in AbbVie by 75.6% in the 2nd quarter. GWM Advisors LLC now owns 37,468 shares of the company’s stock worth $3,489,000 after purchasing an additional 16,131 shares during the period. Orca Investment Management LLC raised its position in AbbVie by 15.4% in the 2nd quarter. Orca Investment Management LLC now owns 6,208 shares of the company’s stock worth $575,000 after purchasing an additional 827 shares during the period. Finally, James Investment Research Inc. raised its position in AbbVie by 14.6% in the 2nd quarter. James Investment Research Inc. now owns 19,605 shares of the company’s stock worth $1,816,000 after purchasing an additional 2,505 shares during the period. Institutional investors own 69.77% of the company’s stock.
ABBV has been the topic of a number of analyst reports. SunTrust Banks decreased their target price on shares of AbbVie from $157.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. Credit Suisse Group set a $85.00 target price on shares of AbbVie and gave the stock a “sell” rating in a research report on Saturday, October 20th. Wolfe Research initiated coverage on shares of AbbVie in a research report on Tuesday, October 23rd. They issued an “underperform” rating on the stock. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Monday, October 1st. Finally, Bank of America decreased their price objective on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. AbbVie has an average rating of “Hold” and an average price target of $103.68.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, November 2nd. The company reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.13. AbbVie had a net margin of 23.50% and a return on equity of 2,006.63%. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, equities analysts predict that AbbVie Inc will post 7.93 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be given a $1.07 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 5.04%. AbbVie’s payout ratio is presently 68.57%.
AbbVie announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 13th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.
In other news, insider Laura J. Schumacher sold 94,140 shares of AbbVie stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $93.58, for a total transaction of $8,809,621.20. Following the sale, the insider now owns 192,398 shares of the company’s stock, valued at approximately $18,004,604.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William J. Chase sold 60,000 shares of AbbVie stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the sale, the executive vice president now directly owns 104,863 shares in the company, valued at approximately $9,437,670. The disclosure for this sale can be found here. Insiders sold 213,440 shares of company stock worth $19,529,804 in the last 90 days. Corporate insiders own 0.07% of the company’s stock.
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AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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