AbbVie Inc. (ABBV) Shares Sold by Concentric Wealth Management LLC
Concentric Wealth Management LLC decreased its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,105 shares of the company’s stock after selling 341 shares during the period. AbbVie makes up 1.8% of Concentric Wealth Management LLC’s portfolio, making the stock its 15th largest holding. Concentric Wealth Management LLC’s holdings in AbbVie were worth $2,328,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Acropolis Investment Management LLC acquired a new stake in AbbVie during the second quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in AbbVie during the first quarter worth $108,000. Tradewinds Capital Management LLC boosted its stake in AbbVie by 87.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after buying an additional 1,057 shares in the last quarter. Exane Asset Management acquired a new stake in shares of AbbVie in the 2nd quarter valued at $181,000. Finally, Camarda Financial Advisors LLC boosted its stake in shares of AbbVie by 18.5% in the 2nd quarter. Camarda Financial Advisors LLC now owns 2,508 shares of the company’s stock valued at $182,000 after purchasing an additional 391 shares in the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.
In other news, EVP Michael Severino sold 25,633 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the completion of the sale, the executive vice president now directly owns 114,922 shares of the company’s stock, valued at approximately $10,881,964.18. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,932 shares of company stock valued at $5,379,432. 0.23% of the stock is currently owned by company insiders.
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Shares of AbbVie Inc. (NYSE ABBV) opened at $93.61 on Friday. The firm has a market capitalization of $150,590.00, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.52. AbbVie Inc. has a twelve month low of $58.60 and a twelve month high of $98.26. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. equities analysts anticipate that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s payout ratio is currently 61.84%.
ABBV has been the topic of several recent analyst reports. Piper Jaffray Companies restated a “buy” rating and issued a $100.00 target price on shares of AbbVie in a research note on Friday, September 15th. SunTrust Banks, Inc. restated a “buy” rating and issued a $95.00 target price on shares of AbbVie in a research note on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $100.00 target price (up previously from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Jefferies Group LLC restated a “buy” rating and issued a $94.00 target price on shares of AbbVie in a research note on Friday, September 8th. Finally, BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $93.68.
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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