Sageworth Trust Co maintained its stake in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,585 shares of the company’s stock at the end of the first quarter. AbbVie makes up approximately 1.3% of Sageworth Trust Co’s portfolio, making the stock its 10th largest position. Sageworth Trust Co’s holdings in AbbVie were worth $6,554,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of ABBV. Elgethun Capital Management acquired a new stake in AbbVie during the fourth quarter valued at $359,000. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of AbbVie by 2.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 79,892 shares of the company’s stock valued at $5,003,000 after buying an additional 2,077 shares during the period. Comerica Bank increased its position in shares of AbbVie by 1.5% in the fourth quarter. Comerica Bank now owns 1,042,947 shares of the company’s stock valued at $64,653,000 after buying an additional 15,764 shares during the period. Handelsbanken Fonder AB increased its position in AbbVie by 4.5% in the fourth quarter. Handelsbanken Fonder AB now owns 699,841 shares of the company’s stock worth $43,824,000 after buying an additional 30,000 shares during the last quarter. Finally, Hall Capital Management Co. Inc. bought a new position in AbbVie during the fourth quarter worth about $2,567,000. 68.04% of the stock is currently owned by institutional investors.
AbbVie Inc. (ABBV) opened at 72.70 on Tuesday. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $73.67. The firm has a 50 day moving average of $68.61 and a 200-day moving average of $64.71. The stock has a market capitalization of $115.70 billion, a PE ratio of 18.84 and a beta of 1.51.
AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 27th. The company reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.26 by $0.02. AbbVie had a net margin of 24.07% and a return on equity of 148.83%. The business had revenue of $6.54 billion during the quarter, compared to analysts’ expectations of $6.49 billion. During the same period in the prior year, the business earned $1.15 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post $5.53 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Wednesday, July 12th. AbbVie’s dividend payout ratio is currently 66.32%.
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A number of equities research analysts have weighed in on ABBV shares. Jefferies Group LLC restated a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 price objective on the stock. in a report on Monday, May 15th. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Deutsche Bank AG increased their price target on shares of AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, BMO Capital Markets set a $63.00 target price on shares of AbbVie and gave the stock a “hold” rating in a report on Thursday, April 27th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $73.78.
In related news, CFO William J. Chase sold 38,300 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $65.35, for a total value of $2,502,905.00. Following the completion of the sale, the chief financial officer now owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 71,235 shares of the stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $65.49, for a total transaction of $4,665,180.15. Following the transaction, the chairman now directly owns 349,462 shares of the company’s stock, valued at approximately $22,886,266.38. The disclosure for this sale can be found here. Insiders sold 278,135 shares of company stock valued at $18,841,085 in the last three months. 0.23% of the stock is currently owned by insiders.
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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