Saratoga Research & Investment Management Sells 205 Shares of AbbVie Inc. (ABBV)

Saratoga Research & Investment Management lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,065 shares of the company’s stock after selling 205 shares during the period. Saratoga Research & Investment Management’s holdings in AbbVie were worth $367,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Accident Compensation Corp raised its stake in shares of AbbVie by 24.7% during the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after purchasing an additional 13,100 shares during the period. Investec Asset Management LTD raised its stake in shares of AbbVie by 3.6% during the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock valued at $10,880,000 after purchasing an additional 5,801 shares during the period. Comerica Securities Inc. raised its stake in shares of AbbVie by 832.7% during the first quarter. Comerica Securities Inc. now owns 66,443 shares of the company’s stock valued at $4,329,000 after purchasing an additional 59,319 shares during the period. Suntrust Banks Inc. raised its stake in shares of AbbVie by 3.7% during the first quarter. Suntrust Banks Inc. now owns 1,216,484 shares of the company’s stock valued at $79,265,000 after purchasing an additional 43,617 shares during the period. Finally, Clean Yield Group raised its stake in shares of AbbVie by 25.0% during the first quarter. Clean Yield Group now owns 9,598 shares of the company’s stock valued at $625,000 after purchasing an additional 1,920 shares during the period. Institutional investors own 68.26% of the company’s stock.

ABBV has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective on the stock in a research note on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $100.00 price objective (up previously from $85.00) on shares of AbbVie in a research note on Friday, September 8th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $107.00 price objective (up previously from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Eight analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. AbbVie presently has a consensus rating of “Buy” and an average price target of $90.49.

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In other news, insider Henry O. Gosebruch sold 18,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $70.09, for a total value of $1,261,620.00. Following the completion of the sale, the insider now directly owns 96,074 shares in the company, valued at $6,733,826.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Insiders have sold 379,890 shares of company stock valued at $27,187,817 over the last quarter. Corporate insiders own 0.23% of the company’s stock.

Shares of AbbVie Inc. (NYSE:ABBV) opened at 91.42 on Friday. The company has a market cap of $145.73 billion, a price-to-earnings ratio of 22.48 and a beta of 1.51. The firm’s 50-day moving average is $84.59 and its 200 day moving average is $72.69. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $92.61.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the company posted $1.26 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post $5.53 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 annualized dividend and a yield of 2.80%. AbbVie’s dividend payout ratio is currently 62.90%.

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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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