AbbVie Inc (NYSE:ABBV) Shares Bought by Greenline Partners LLC
Greenline Partners LLC boosted its position in shares of AbbVie Inc (NYSE:ABBV) by 3.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 41,005 shares of the company’s stock after acquiring an additional 1,245 shares during the quarter. Greenline Partners LLC’s holdings in AbbVie were worth $3,868,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. First Mercantile Trust Co. acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $150,000. MUFG Securities EMEA plc acquired a new position in shares of AbbVie during the 2nd quarter worth approximately $157,000. Rainier Group Investment Advisory LLC acquired a new position in shares of AbbVie during the 1st quarter worth approximately $161,000. Kiley Juergens Wealth Management LLC boosted its holdings in shares of AbbVie by 69.3% during the 3rd quarter. Kiley Juergens Wealth Management LLC now owns 1,761 shares of the company’s stock worth $166,000 after purchasing an additional 721 shares during the last quarter. Finally, Clearwater Capital Advisors LLC acquired a new position in shares of AbbVie during the 1st quarter worth approximately $195,000. 69.85% of the stock is owned by institutional investors.
In other news, EVP Henry O. Gosebruch sold 42,450 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $90.10, for a total transaction of $3,824,745.00. Following the sale, the executive vice president now owns 30,350 shares of the company’s stock, valued at $2,734,535. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura J. Schumacher sold 94,140 shares of the company’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $93.58, for a total value of $8,809,621.20. Following the sale, the insider now directly owns 192,398 shares in the company, valued at approximately $18,004,604.84. The disclosure for this sale can be found here. 0.07% of the stock is owned by corporate insiders.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, November 2nd. The company reported $2.14 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.13. AbbVie had a return on equity of 2,006.63% and a net margin of 23.50%. The company had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.23 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. On average, sell-side analysts expect that AbbVie Inc will post 7.93 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Tuesday, January 15th will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.92%. This is a boost from AbbVie’s previous quarterly dividend of $0.96. The ex-dividend date is Monday, January 14th. AbbVie’s dividend payout ratio is 68.57%.
ABBV has been the topic of several recent research reports. SunTrust Banks lowered their target price on AbbVie from $157.00 to $135.00 and set a “buy” rating on the stock in a report on Monday, October 22nd. Credit Suisse Group set a $85.00 target price on AbbVie and gave the stock a “sell” rating in a report on Saturday, October 20th. Wolfe Research initiated coverage on AbbVie in a report on Tuesday, October 23rd. They set an “underperform” rating on the stock. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Monday, October 1st. Finally, Bank of America decreased their price objective on AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $103.68.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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