Dubuque Bank & Trust Co. reduced its stake in AbbVie Inc. (NYSE:ABBV) by 6.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,468 shares of the company’s stock after selling 355 shares during the period. Dubuque Bank & Trust Co.’s holdings in AbbVie were worth $396,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. Acropolis Investment Management LLC bought a new stake in AbbVie during the second quarter valued at about $106,000. First Command Financial Services Inc. increased its stake in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie during the first quarter valued at about $108,000. Atwood & Palmer Inc. increased its stake in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after buying an additional 2,000 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased its stake in AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after buying an additional 1,057 shares during the last quarter. Hedge funds and other institutional investors own 67.69% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.16% during midday trading on Friday, reaching $69.96. The company’s stock had a trading volume of 4,016,367 shares. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04. The firm has a market cap of $111.52 billion, a price-to-earnings ratio of 17.21 and a beta of 1.50. The company has a 50-day moving average price of $71.72 and a 200-day moving average price of $67.10.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.26 EPS. Equities analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were paid a $0.64 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $2.56 annualized dividend and a yield of 3.66%. AbbVie’s dividend payout ratio (DPR) is presently 62.90%.
COPYRIGHT VIOLATION NOTICE: “Dubuque Bank & Trust Co. Decreases Stake in AbbVie Inc. (ABBV)” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://stocknewstimes.com/2017/08/20/dubuque-bank-trust-co-decreases-stake-in-abbvie-inc-abbv.html.
ABBV has been the topic of several recent analyst reports. BMO Capital Markets set a $63.00 price objective on AbbVie and gave the stock a “hold” rating in a report on Thursday, April 27th. Deutsche Bank AG boosted their price objective on AbbVie from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Vetr downgraded AbbVie from a “strong-buy” rating to a “buy” rating and set a $74.98 price objective on the stock. in a report on Thursday, May 4th. Jefferies Group LLC restated a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Finally, Credit Suisse Group restated a “hold” rating and set a $65.00 price objective on shares of AbbVie in a report on Wednesday, June 7th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and a consensus target price of $76.02.
In related news, insider Laura J. Schumacher sold 79,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $5,586,000.00. Following the completion of the sale, the insider now directly owns 187,625 shares in the company, valued at approximately $13,133,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Richard A. Gonzalez sold 87,899 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $71.02, for a total value of $6,242,586.98. Following the completion of the sale, the chairman now owns 342,353 shares of the company’s stock, valued at $24,313,910.06. The disclosure for this sale can be found here. Insiders sold a total of 490,491 shares of company stock valued at $34,684,639 over the last 90 days. 0.23% of the stock is currently owned by corporate insiders.
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.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).
Receive News & Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
