Coastline Trust Co Cuts Stock Position in AbbVie Inc (NYSE:ABBV)

Coastline Trust Co lessened its stake in AbbVie Inc (NYSE:ABBV) by 7.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,646 shares of the company’s stock after selling 1,660 shares during the quarter. Coastline Trust Co’s holdings in AbbVie were worth $1,639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. boosted its position in shares of AbbVie by 17.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,898,799 shares of the company’s stock worth $314,203,000 after acquiring an additional 585,248 shares during the last quarter. Bath Savings Trust Co boosted its position in shares of AbbVie by 23.7% during the second quarter. Bath Savings Trust Co now owns 9,198 shares of the company’s stock worth $669,000 after acquiring an additional 1,760 shares during the last quarter. Cox Capital Mgt LLC boosted its position in shares of AbbVie by 49.1% during the second quarter. Cox Capital Mgt LLC now owns 33,178 shares of the company’s stock worth $2,413,000 after acquiring an additional 10,921 shares during the last quarter. Thomasville National Bank boosted its position in shares of AbbVie by 2.5% during the second quarter. Thomasville National Bank now owns 45,013 shares of the company’s stock worth $3,273,000 after acquiring an additional 1,118 shares during the last quarter. Finally, Park National Corp OH boosted its position in shares of AbbVie by 1.8% during the second quarter. Park National Corp OH now owns 305,685 shares of the company’s stock worth $22,229,000 after acquiring an additional 5,472 shares during the last quarter. 68.22% of the stock is owned by institutional investors.

A number of equities analysts recently weighed in on the stock. TheStreet lowered shares of AbbVie from a “b-” rating to a “c” rating in a research report on Monday, August 26th. Citigroup upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and increased their price objective for the company from $87.00 to $90.00 in a research report on Thursday, September 26th. UBS Group upgraded shares of AbbVie from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $85.00 to $79.00 in a research report on Thursday, September 12th. ValuEngine upgraded shares of AbbVie from a “strong sell” rating to a “sell” rating in a research report on Monday, September 30th. Finally, Svb Leerink upgraded 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 report on Wednesday, June 26th. Three investment 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $89.97.

In related news, SVP Nicholas Donoghoe purchased 7,525 shares of AbbVie stock in a transaction that occurred on Thursday, August 29th. The shares were bought at an average price of $66.19 per share, with a total value of $498,079.75. Following the purchase, the senior vice president now directly owns 13,090 shares of the company’s stock, valued at approximately $866,427.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Roxanne S. Austin purchased 10,000 shares of AbbVie stock in a transaction that occurred on Tuesday, July 30th. The stock was bought at an average cost of $66.35 per share, for a total transaction of $663,500.00. Following the purchase, the director now directly owns 62,114 shares in the company, valued at $4,121,263.90. The disclosure for this purchase can be found here. In the last three months, insiders bought 183,077 shares of company stock worth $10,705,751. Insiders own 0.08% of the company’s stock.

ABBV stock opened at $76.46 on Monday. AbbVie Inc has a 52 week low of $62.66 and a 52 week high of $94.98. The company has a fifty day simple moving average of $71.60 and a two-hundred day simple moving average of $73.69. The firm has a market capitalization of $111.09 billion, a P/E ratio of 9.67, a price-to-earnings-growth ratio of 1.53 and a beta of 0.99.

AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter last year, the business earned $2.00 earnings per share. AbbVie’s quarterly revenue was down .3% compared to the same quarter last year. Research analysts anticipate that AbbVie Inc will post 8.93 EPS for the current fiscal year.

The company also recently announced a — dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a $1.07 dividend. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend is Friday, October 11th. AbbVie’s dividend payout ratio is currently 54.11%.

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.

See Also: Back-End Load

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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