Community Bank N.A. cut its holdings in AbbVie Inc (NYSE:ABBV) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,357 shares of the company’s stock after selling 2,387 shares during the quarter. Community Bank N.A.’s holdings in AbbVie were worth $5,719,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acropolis Investment Management LLC acquired a new stake in AbbVie during the 2nd quarter worth about $106,000. Hudock Capital Group LLC raised its holdings in AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after buying an additional 806 shares during the period. Ffcm LLC raised its holdings in AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after buying an additional 963 shares during the period. Bristlecone Advisors LLC acquired a new stake in AbbVie during the 3rd quarter worth about $113,000. Finally, BDO Wealth Advisors LLC acquired a new stake in AbbVie during the 2nd quarter worth about $115,000. Hedge funds and other institutional investors own 69.18% of the company’s stock.
Several research firms have weighed in on ABBV. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Group lifted their target price on AbbVie from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday. Piper Jaffray Companies reaffirmed a “buy” rating on shares of AbbVie in a research note on Tuesday. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 target price on the stock in a research note on Wednesday, December 20th. Finally, BMO Capital Markets set a $84.00 target price on AbbVie and gave the company a “hold” rating in a research note on Wednesday, December 20th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $100.94.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 EPS. research analysts expect that AbbVie Inc will post 5.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be paid a $0.71 dividend. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.81%. AbbVie’s payout ratio is presently 62.14%.
In related news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the completion of the sale, the insider now owns 81,287 shares of the company’s stock, valued at approximately $7,360,537.85. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael Severino sold 25,633 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the sale, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at approximately $10,881,964.18. The disclosure for this sale can be found here. In the last three months, insiders sold 494,676 shares of company stock valued at $47,237,938. 0.23% of the stock is currently owned by company insiders.
AbbVie Company Profile
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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