AbbVie Inc. (ABBV) Shares Sold by Tufton Capital Management
Tufton Capital Management lessened its stake in AbbVie Inc. (NYSE:ABBV) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,585 shares of the company’s stock after selling 546 shares during the quarter. AbbVie accounts for 2.0% of Tufton Capital Management’s investment portfolio, making the stock its 10th largest position. Tufton Capital Management’s holdings in AbbVie were worth $10,049,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Acropolis Investment Management LLC purchased a new position in AbbVie during the 2nd quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in AbbVie during the 1st quarter valued at about $108,000. Atwood & Palmer Inc. increased its holdings in AbbVie by 1,333.3% during the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after acquiring an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC increased its holdings in AbbVie by 87.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after acquiring an additional 1,057 shares in the last quarter. Finally, Exane Asset Management purchased a new position in AbbVie during the 2nd quarter valued at about $181,000. Institutional investors and hedge funds own 68.25% of the company’s stock.
In related news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Rapp bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average price of $70.45 per share, with a total value of $281,800.00. Following the completion of the purchase, the director now directly owns 15,498 shares of the company’s stock, valued at approximately $1,091,834.10. The disclosure for this purchase can be found here. Insiders have sold 379,890 shares of company stock valued at $27,187,817 in the last ninety days. Company insiders own 0.23% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) opened at 90.67 on Monday. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $92.61. The company has a 50 day moving average of $85.49 and a 200 day moving average of $72.96. The firm has a market capitalization of $144.54 billion, a PE ratio of 22.30 and a beta of 1.51.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. On average, analysts anticipate that AbbVie Inc. will post $5.53 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a yield of 2.82%. AbbVie’s payout ratio is currently 62.90%.
ABBV has been the subject of several recent research reports. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Jefferies Group LLC restated a “buy” rating and set a $94.00 target price on shares of AbbVie in a report on Friday, September 8th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $100.00 target price (up from $85.00) on shares of AbbVie in a report on Friday, September 8th. Zacks Investment Research downgraded shares of AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Leerink Swann restated a “market perform” rating on shares of AbbVie in a report on Tuesday, September 12th. Eight investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $91.78.
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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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