CMH Wealth Management LLC decreased its position in shares of AbbVie Inc (NYSE:ABBV) by 11.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,361 shares of the company’s stock after selling 2,191 shares during the quarter. CMH Wealth Management LLC’s holdings in AbbVie were worth $1,315,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Legacy Capital Partners Inc. boosted its stake in AbbVie by 3.4% in the 1st quarter. Legacy Capital Partners Inc. now owns 59,234 shares of the company’s stock worth $4,774,000 after purchasing an additional 1,955 shares during the period. Centric Wealth Management boosted its stake in AbbVie by 20.1% in the 1st quarter. Centric Wealth Management now owns 3,184 shares of the company’s stock worth $257,000 after purchasing an additional 532 shares during the period. Manning & Napier Group LLC boosted its stake in AbbVie by 28.3% in the 1st quarter. Manning & Napier Group LLC now owns 379,320 shares of the company’s stock worth $30,569,000 after purchasing an additional 83,583 shares during the period. Adams Asset Advisors LLC boosted its stake in AbbVie by 1.4% in the 1st quarter. Adams Asset Advisors LLC now owns 69,748 shares of the company’s stock worth $5,620,000 after purchasing an additional 959 shares during the period. Finally, Country Club Trust Company n.a. boosted its stake in AbbVie by 15.2% in the 1st quarter. Country Club Trust Company n.a. now owns 5,625 shares of the company’s stock worth $453,000 after purchasing an additional 743 shares during the period. Hedge funds and other institutional investors own 68.14% of the company’s stock.
In related news, EVP Henry O. Gosebruch acquired 30,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were bought at an average price of $67.28 per share, for a total transaction of $2,018,400.00. Following the acquisition, the executive vice president now owns 75,763 shares in the company, valued at approximately $5,097,334.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Laura J. Schumacher acquired 25,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $70.42 per share, for a total transaction of $1,760,500.00. Following the acquisition, the insider now owns 164,838 shares in the company, valued at approximately $11,607,891.96. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 183,077 shares of company stock worth $10,705,751. Insiders own 0.08% of the company’s stock.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The company had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same quarter in the previous year, the firm posted $2.00 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, research analysts forecast that AbbVie Inc will post 8.9 EPS for the current year.
The business also recently disclosed a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a dividend yield of 6.4%. AbbVie’s payout ratio is 54.11%.
A number of equities analysts recently commented on ABBV shares. Wolfe Research raised shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. ValuEngine raised shares of AbbVie from a “strong sell” rating to a “sell” rating in a research note on Monday, September 30th. Citigroup raised shares of AbbVie from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $87.00 to $90.00 in a research note on Thursday, September 26th. TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a research note on Monday, August 26th. Finally, Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $89.97.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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