Harbour Trust & Investment Management Co cut its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,931 shares of the company’s stock after selling 488 shares during the quarter. Harbour Trust & Investment Management Co’s holdings in AbbVie were worth $3,738,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FCG Investment Co purchased a new position in AbbVie during the 1st quarter valued at about $1,413,000. BluePath Capital Management LLC raised its position in shares of AbbVie by 0.9% in the first quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after buying an additional 67 shares in the last quarter. Palisade Asset Management LLC boosted its stake in AbbVie by 65.6% during the first quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock valued at $17,726,000 after buying an additional 38,562 shares during the period. First Hawaiian Bank grew its position in AbbVie by 9.0% during the second quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock worth $5,506,000 after buying an additional 2,657 shares in the last quarter. Finally, PGGM Investments increased its stake in AbbVie by 308.1% in the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after acquiring an additional 24,756 shares during the last quarter. Institutional investors own 70.23% of the company’s stock.
Insider Activity at AbbVie
In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $186.52, for a total transaction of $12,403,580.00. Following the sale, the chairman now directly owns 446,599 shares of the company’s stock, valued at $83,299,645.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
AbbVie Stock Up 1.0 %
Shares of AbbVie stock opened at $189.68 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.81 and a debt-to-equity ratio of 8.51. The company has a market cap of $334.95 billion, a P/E ratio of 56.28, a PEG ratio of 2.66 and a beta of 0.63. The firm’s 50 day moving average price is $194.22 and its 200-day moving average price is $178.08. AbbVie Inc. has a 52-week low of $135.85 and a 52-week high of $199.95.
AbbVie (NYSE:ABBV – Get Free Report) last released its earnings results on Thursday, July 25th. The company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.02 billion. AbbVie had a return on equity of 203.66% and a net margin of 9.71%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.91 earnings per share. On average, sell-side analysts predict that AbbVie Inc. will post 10.85 EPS for the current fiscal year.
AbbVie Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 15th will be given a dividend of $1.55 per share. The ex-dividend date is Tuesday, October 15th. This represents a $6.20 annualized dividend and a yield of 3.27%. AbbVie’s dividend payout ratio is presently 183.98%.
About AbbVie
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.
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