AbbVie Inc (ABBV) Position Increased by Sageworth Trust Co
Sageworth Trust Co increased its position in shares of AbbVie Inc (NYSE:ABBV) by 11.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,937 shares of the company’s stock after buying an additional 11,352 shares during the period. AbbVie comprises about 1.9% of Sageworth Trust Co’s portfolio, making the stock its 7th biggest position. Sageworth Trust Co’s holdings in AbbVie were worth $9,947,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Acropolis Investment Management LLC purchased a new position in AbbVie in the second quarter valued at approximately $106,000. Hudock Capital Group LLC increased its stake in AbbVie by 109.5% in the second quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after purchasing an additional 806 shares during the last quarter. Ffcm LLC increased its stake in AbbVie by 167.2% in the second quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the last quarter. Bristlecone Advisors LLC purchased a new position in AbbVie in the third quarter valued at approximately $113,000. Finally, BDO Wealth Advisors LLC purchased a new position in AbbVie in the second quarter valued at approximately $115,000. Hedge funds and other institutional investors own 69.18% of the company’s stock.
AbbVie Inc (ABBV) opened at $98.21 on Tuesday. 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 stock has a market cap of $156,785.38, a P/E ratio of 23.90, a PEG ratio of 1.37 and a beta of 1.52. AbbVie Inc has a 1 year low of $59.27 and a 1 year high of $99.10.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. AbbVie had a net margin of 24.38% and a return on equity of 153.80%. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the firm posted $1.21 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. research analysts predict that AbbVie Inc will post 5.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.71 per share. The ex-dividend date is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 2.89%. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
In related news, insider Henry O. Gosebruch sold 18,300 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total transaction of $1,657,065.00. Following the completion of the sale, the insider now directly owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the 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 of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 501,375 shares of company stock valued at $47,827,450. Corporate insiders own 0.23% of the company’s stock.
Several equities analysts have commented on ABBV shares. Jefferies Group increased their price target on shares of AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, October 16th. BMO Capital Markets set a $66.00 price target on shares of AbbVie and gave the company a “hold” rating in a research note on Friday, October 27th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Piper Jaffray Companies increased their price target on shares of AbbVie to $115.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Finally, SunTrust Banks reiterated a “buy” rating on shares of AbbVie in a research note on Monday, October 30th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. AbbVie has a consensus rating of “Buy” and an average target price of $100.26.
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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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