Saturna Capital CORP cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 383,561 shares of the company’s stock after selling 394 shares during the period. Saturna Capital CORP’s holdings in AbbVie were worth $23,746,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC increased its stake in shares of AbbVie by 3.7% in the first quarter. Acadian Asset Management LLC now owns 36,466 shares of the company’s stock worth $2,083,000 after buying an additional 1,308 shares during the last quarter. TNB Financial increased its stake in shares of AbbVie by 40.9% in the first quarter. TNB Financial now owns 28,453 shares of the company’s stock worth $1,625,000 after buying an additional 8,263 shares during the last quarter. Koshinski Asset Management Inc. increased its stake in shares of AbbVie by 6.1% in the first quarter. Koshinski Asset Management Inc. now owns 7,961 shares of the company’s stock worth $455,000 after buying an additional 461 shares during the last quarter. Capital City Trust Co. FL increased its stake in shares of AbbVie by 5.7% in the first quarter. Capital City Trust Co. FL now owns 19,550 shares of the company’s stock worth $1,117,000 after buying an additional 1,055 shares during the last quarter. Finally, Gierl Augustine Investment Management Inc increased its stake in shares of AbbVie by 23.0% in the first quarter. Gierl Augustine Investment Management Inc now owns 43,913 shares of the company’s stock worth $2,508,000 after buying an additional 8,198 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded up 0.19% during midday trading on Friday, hitting $62.94. 3,546,903 shares of the company were exchanged. The stock has a market capitalization of $102.50 billion, a price-to-earnings ratio of 18.15 and a beta of 1.49. The stock has a 50 day moving average of $64.80 and a 200-day moving average of $62.24. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the previous year, the company earned $1.08 earnings per share. AbbVie’s quarterly revenue was up 17.8% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post $4.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 65.71%.
A number of analysts have weighed in on ABBV shares. Cowen and Company downgraded AbbVie from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $77.00 to $70.00 in a report on Monday, June 6th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of AbbVie in a report on Monday, June 6th. Deutsche Bank AG reiterated a “hold” rating on shares of AbbVie in a report on Tuesday, June 7th. Morgan Stanley downgraded AbbVie from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $73.00 to $65.00 in a report on Monday, June 6th. Finally, Jefferies Group reiterated a “buy” rating on shares of AbbVie in a report on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $70.68.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the sale, the insider now owns 144,138 shares in the company, valued at $9,368,970. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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