Freestone Capital Holdings LLC Acquires 3,918 Shares of AbbVie Inc. (ABBV)
Freestone Capital Holdings LLC raised its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 5.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,676 shares of the company’s stock after acquiring an additional 3,918 shares during the period. Freestone Capital Holdings LLC’s holdings in AbbVie were worth $5,197,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. WealthTrust Axiom LLC grew its holdings in shares of AbbVie by 0.3% in the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after purchasing an additional 15 shares during the last quarter. Abner Herrman & Brock LLC grew its holdings in shares of AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after purchasing an additional 18 shares during the last quarter. Bollard Group LLC grew its holdings in shares of AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after purchasing an additional 19 shares during the last quarter. St. Louis Trust Co grew its holdings in shares of AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares during the last quarter. Finally, TRUE Private Wealth Advisors grew its holdings in shares of AbbVie by 0.6% in the second quarter. TRUE Private Wealth Advisors now owns 4,814 shares of the company’s stock worth $349,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 69.32% of the company’s stock.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at approximately $46,255,740.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction dated Monday, September 11th. The stock was 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 owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 277,125 shares of company stock valued at $25,891,756. 0.23% of the stock is owned by insiders.
ABBV has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Tuesday, October 17th. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 25th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $100.00 price target (up previously from $85.00) on shares of AbbVie in a research note on Friday, September 8th. Deutsche Bank raised their price target on AbbVie to $88.00 and gave the stock a “hold” rating in a research note on Thursday, September 28th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $107.00 price target (up previously from $94.00) on shares of AbbVie in a research note on Friday, September 15th. Seven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $96.66.
AbbVie Inc. (ABBV) opened at $94.40 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. The company has a market capitalization of $152,315.39, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. AbbVie Inc. has a 52-week low of $58.80 and a 52-week high of $98.52.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion during the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. equities research analysts forecast that AbbVie Inc. will post 5.55 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Thursday, January 11th. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 62.29%.
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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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