Sigma Planning Corp Has $3.96 Million Position in AbbVie Inc. (ABBV)
Sigma Planning Corp lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 54,623 shares of the company’s stock after buying an additional 558 shares during the quarter. Sigma Planning Corp’s holdings in AbbVie were worth $3,961,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Acropolis Investment Management LLC bought a new stake in AbbVie in the 2nd quarter valued at $106,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie in the 1st quarter valued at $108,000. Atwood & Palmer Inc. increased its holdings in AbbVie by 1,333.3% in 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 during the last quarter. Tradewinds Capital Management LLC increased its holdings in AbbVie by 87.2% in 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 during the last quarter. Finally, Exane Asset Management bought a new stake in AbbVie in the 2nd quarter valued at $181,000. Institutional investors own 68.49% of the company’s stock.
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In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the firm’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 sale, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Henry O. Gosebruch sold 18,300 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The disclosure for this sale can be found here. Insiders sold 380,190 shares of company stock worth $27,583,262 over the last quarter. 0.23% of the stock is currently owned by company insiders.
A number of analysts have issued reports on the stock. Zacks Investment Research downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a report on Friday, October 20th. BMO Capital Markets set a $66.00 target price on shares of AbbVie and gave the stock a “hold” rating in a report on Friday, October 27th. Leerink Swann reduced their target price on shares of AbbVie from $108.00 to $107.00 and set an “outperform” rating on the stock in a report on Monday. SunTrust Banks, Inc. restated a “buy” rating on shares of AbbVie in a report on Monday. Finally, BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $93.68.
Shares of AbbVie Inc. (NYSE ABBV) opened at 90.25 on Wednesday. AbbVie Inc. has a 12 month low of $55.85 and a 12 month high of $98.26. The stock has a market cap of $143.87 billion, a PE ratio of 22.20 and a beta of 1.51. The stock has a 50 day moving average of $90.02 and a 200 day moving average of $75.30.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $1.21 earnings per share. On average, equities analysts anticipate that AbbVie Inc. will post $5.54 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 3.15%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 62.29%.
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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