AbbVie Inc (ABBV) Position Lifted by Guidant Wealth Advisors
Guidant Wealth Advisors increased its stake in AbbVie Inc (NYSE:ABBV) by 37.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,523 shares of the company’s stock after purchasing an additional 1,232 shares during the period. Guidant Wealth Advisors’ holdings in AbbVie were worth $410,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bristlecone Advisors LLC acquired a new stake in shares of AbbVie during the third quarter valued at about $113,000. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at about $106,000. Ffcm LLC boosted its stake in shares of AbbVie by 167.2% during 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 in the last quarter. Hudock Capital Group LLC boosted its stake in shares of AbbVie by 109.5% during 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 in the last quarter. Finally, BDO Wealth Advisors LLC acquired a new stake in shares of AbbVie during the second quarter valued at about $115,000. Institutional investors own 69.18% of the company’s stock.
In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the business’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the transaction, the insider now owns 81,287 shares of the company’s stock, valued at $7,360,537.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Severino sold 25,633 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 114,922 shares in the company, valued at approximately $10,881,964.18. The disclosure for this sale can be found here. Insiders have sold 494,676 shares of company stock valued at $47,237,938 in the last quarter. 0.23% of the stock is currently owned by corporate insiders.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The business had revenue of $7 billion during the quarter, compared to the consensus estimate of $7 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. AbbVie’s revenue was up 8.8% compared to the same quarter last year. sell-side analysts expect 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 represents a $2.84 annualized dividend and a yield of 2.90%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is 62.14%.
A number of research firms recently commented on ABBV. Barclays reaffirmed a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. Evercore ISI reaffirmed an “outperform” rating and issued a $100.00 price objective (up from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. BMO Capital Markets reaffirmed a “hold” rating and issued a $66.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. Jefferies Group reaffirmed a “buy” rating and issued a $107.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. Finally, Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $113.08 price objective on the stock in a research note on Wednesday, December 20th. Seven research 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. The stock currently has a consensus rating of “Buy” and a consensus price target of $100.26.
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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