Wellington Shields Capital Management LLC cut its stake in AbbVie Inc (NYSE:ABBV) by 31.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 31,012 shares of the company’s stock after selling 14,368 shares during the period. Wellington Shields Capital Management LLC’s holdings in AbbVie were worth $2,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new position in shares of AbbVie in the first quarter worth $146,000. We Are One Seven LLC bought a new position in shares of AbbVie in the fourth quarter worth $148,000. First Mercantile Trust Co. bought a new position in shares of AbbVie in the second quarter worth $150,000. Centaurus Financial Inc. bought a new position in shares of AbbVie in the first quarter worth $153,000. Finally, Wagner Wealth Management LLC bought a new position in shares of AbbVie in the fourth quarter worth $154,000. 69.37% of the stock is owned by institutional investors.
In other news, Director Glenn F. Tilton bought 5,400 shares of the firm’s stock in a transaction that occurred on Wednesday, June 27th. The stock was acquired at an average price of $91.90 per share, with a total value of $496,260.00. Following the completion of the purchase, the director now directly owns 39,735 shares of the company’s stock, valued at approximately $3,651,646.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward J. Rapp bought 1,013 shares of the firm’s stock in a transaction that occurred on Wednesday, June 20th. The shares were purchased at an average cost of $98.63 per share, with a total value of $99,912.19. The disclosure for this purchase can be found here. Company insiders own 0.07% of the company’s stock.
Shares of ABBV stock opened at $95.68 on Friday. AbbVie Inc has a fifty-two week low of $83.19 and a fifty-two week high of $125.86. The stock has a market cap of $141.19 billion, a P/E ratio of 13.79, a PEG ratio of 0.85 and a beta of 1.54. The company has a quick ratio of 0.71, a current ratio of 0.80 and a debt-to-equity ratio of -9.06.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 27th. The company reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.98 by $0.02. AbbVie had a return on equity of 362.05% and a net margin of 20.84%. The business had revenue of $8.28 billion during the quarter, compared to analysts’ expectations of $8.22 billion. During the same quarter last year, the business posted $1.42 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. sell-side analysts predict that AbbVie Inc will post 7.86 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 annualized dividend and a yield of 4.01%. AbbVie’s dividend payout ratio is currently 68.57%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, for the treatment of adults with genotype 1 chronic hepatitis C.
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