Ally Financial Inc. held its stake in AbbVie Inc (NYSE:ABBV) during the fourth quarter, Holdings Channel reports. The firm owned 65,000 shares of the company’s stock at the end of the fourth quarter. Ally Financial Inc.’s holdings in AbbVie were worth $4,070,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC increased its stake in AbbVie by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,764 shares of the company’s stock worth $111,000 after buying an additional 882 shares in the last quarter. First PREMIER Bank increased its stake in AbbVie by 1,850.0% in the third quarter. First PREMIER Bank now owns 1,950 shares of the company’s stock worth $123,000 after buying an additional 1,850 shares in the last quarter. Massey Quick & Co. LLC purchased a new stake in AbbVie during the fourth quarter worth $177,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in AbbVie by 5,766.3% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 178,217 shares of the company’s stock worth $178,000 after buying an additional 175,179 shares in the last quarter. Finally, D. Scott Neal Inc. increased its stake in AbbVie by 42.7% in the third quarter. D. Scott Neal Inc. now owns 2,853 shares of the company’s stock worth $180,000 after buying an additional 854 shares in the last quarter. 66.67% of the stock is owned by institutional investors and hedge funds.
AbbVie Inc (NYSE:ABBV) opened at 65.62 on Friday. The company has a market capitalization of $104.59 billion, a PE ratio of 18.08 and a beta of 1.57. AbbVie Inc has a one year low of $55.06 and a one year high of $68.12. The company has a 50 day moving average price of $63.14 and a 200-day moving average price of $62.08.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, January 27th. The company reported $1.20 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.20. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.92 billion. AbbVie had a return on equity of 141.55% and a net margin of 23.22%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.13 EPS. Analysts expect that AbbVie Inc will post $5.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Shareholders of record on Thursday, April 13th will be paid a $0.64 dividend. The ex-dividend date is Tuesday, April 11th. This represents a $2.56 dividend on an annualized basis and a yield of 3.90%. AbbVie’s dividend payout ratio (DPR) is currently 70.52%.
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A number of equities analysts have issued reports on ABBV shares. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.88 price target on the stock. in a report on Monday, February 13th. Jefferies Group LLC restated a “buy” rating and set a $90.00 price target on shares of AbbVie in a report on Thursday, January 5th. Goldman Sachs Group Inc upgraded AbbVie from a “buy” rating to a “conviction-buy” rating and increased their price target for the stock from $74.00 to $80.00 in a report on Saturday, March 11th. Finally, BMO Capital Markets restated a “hold” rating and set a $63.00 price target on shares of AbbVie in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.69.
In other AbbVie news, SVP Timothy J. Richmond sold 22,451 shares of AbbVie stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $65.29, for a total value of $1,465,825.79. Following the transaction, the senior vice president now directly owns 26,078 shares of the company’s stock, valued at approximately $1,702,632.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 72,016 shares of AbbVie stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $64.25, for a total value of $4,627,028.00. Following the completion of the transaction, the chairman now directly owns 369,113 shares in the company, valued at $23,715,510.25. The disclosure for this sale can be found here. Insiders sold a total of 139,599 shares of company stock worth $9,038,322 over the last ninety days. Insiders own 0.11% of the company’s stock.
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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