Founders Capital Management lowered its position in shares of AbbVie Inc (NYSE:ABBV) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,994 shares of the company’s stock after selling 690 shares during the period. AbbVie accounts for 3.7% of Founders Capital Management’s holdings, making the stock its 3rd biggest holding. Founders Capital Management’s holdings in AbbVie were worth $4,448,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Beaton Management Co. Inc. purchased a new position in AbbVie during the 2nd quarter worth $528,000. Jennison Associates LLC purchased a new position in AbbVie during the 3rd quarter worth $544,418,000. Parsec Financial Management Inc. increased its holdings in shares of AbbVie by 265.3% in the 3rd quarter. Parsec Financial Management Inc. now owns 20,881 shares of the company’s stock valued at $1,856,000 after purchasing an additional 15,165 shares in the last quarter. First Merchants Corp increased its holdings in shares of AbbVie by 114.7% in the 3rd quarter. First Merchants Corp now owns 71,497 shares of the company’s stock valued at $6,352,000 after purchasing an additional 38,196 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of AbbVie by 0.8% in the 3rd quarter. Swiss National Bank now owns 5,870,329 shares of the company’s stock valued at $521,637,000 after purchasing an additional 46,500 shares in the last quarter. Institutional investors own 70.63% of the company’s stock.
In other AbbVie news, CFO William J. Chase sold 70,928 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $117.18, for a total transaction of $8,311,343.04. Following the completion of the transaction, the chief financial officer now directly owns 203,391 shares in the company, valued at approximately $23,833,357.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert A. Michael sold 992 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $120.31, for a total transaction of $119,347.52. The disclosure for this sale can be found here. Insiders have sold a total of 443,747 shares of company stock valued at $47,226,935 over the last 90 days. 0.23% of the stock is currently owned by insiders.
AbbVie Inc (NYSE:ABBV) opened at $119.29 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.18 and a debt-to-equity ratio of 6.07. AbbVie Inc has a twelve month low of $63.12 and a twelve month high of $125.86. The firm has a market cap of $189,429.30, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 26th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.04. AbbVie had a net margin of 18.82% and a return on equity of 158.15%. The firm had revenue of $7.74 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period last year, the firm posted $1.20 EPS. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. equities research analysts anticipate that AbbVie Inc will post 7.48 earnings per share for the current fiscal year.
AbbVie announced that its board has initiated a stock buyback program on Thursday, February 15th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Shareholders of record on Friday, April 13th will be issued a dividend of $0.96 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.71. This represents a $3.84 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Thursday, April 12th. AbbVie’s dividend payout ratio (DPR) is 86.32%.
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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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