AbbVie Inc (ABBV) Shares Sold by WESPAC Advisors LLC
WESPAC Advisors LLC cut its position in shares of AbbVie Inc (NYSE:ABBV) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 19,644 shares of the company’s stock after selling 1,264 shares during the quarter. WESPAC Advisors LLC’s holdings in AbbVie were worth $1,746,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Acropolis Investment Management LLC acquired a new position in shares of AbbVie in the 2nd quarter worth $106,000. Hudock Capital Group LLC grew its holdings in shares of AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after acquiring an additional 806 shares during the last quarter. Ffcm LLC grew its holdings in shares of AbbVie by 167.2% in the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the last quarter. Bristlecone Advisors LLC acquired a new position in shares of AbbVie in the 3rd quarter worth $113,000. Finally, BDO Wealth Advisors LLC acquired a new position in shares of AbbVie in the 2nd quarter worth $115,000. Institutional investors own 69.18% of the company’s stock.
In related news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the sale, the chairman now owns 492,030 shares of the company’s stock, valued at $46,255,740.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Timothy J. Richmond sold 87,040 shares of AbbVie stock in a transaction on Monday, December 18th. The shares were sold at an average price of $98.45, for a total value of $8,569,088.00. Following the sale, the senior vice president now directly owns 113,118 shares of the company’s stock, valued at approximately $11,136,467.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 501,375 shares of company stock valued at $47,827,450. Insiders own 0.23% of the company’s stock.
ABBV has been the topic of a number of research analyst reports. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Evercore ISI reiterated an “outperform” rating and set a $100.00 price target (up previously from $95.00) on shares of AbbVie in a report on Saturday, September 30th. Societe Generale lifted their price target on AbbVie in a report on Tuesday, November 21st. Barclays reiterated a “hold” rating and set a $68.00 price target on shares of AbbVie in a report on Thursday, September 28th. Finally, ValuEngine downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and a consensus target price of $100.26.
Shares of AbbVie Inc (NYSE:ABBV) opened at $97.75 on Wednesday. The stock has a market capitalization of $156,785.38, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.37 and a beta of 1.52. AbbVie Inc has a 12-month low of $59.27 and a 12-month high of $99.10. 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 released its quarterly earnings data 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 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 business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.21 earnings per share. equities analysts forecast that AbbVie Inc will post 5.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be given a dividend of $0.71 per share. This is a boost from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.91%. 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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