EagleClaw Capital Managment LLC cut its stake in shares of AbbVie Inc (NYSE:ABBV) by 0.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 55,591 shares of the company’s stock after selling 50 shares during the period. AbbVie makes up approximately 2.2% of EagleClaw Capital Managment LLC’s holdings, making the stock its 9th largest position. EagleClaw Capital Managment LLC’s holdings in AbbVie were worth $3,486,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of ABBV. Penserra Capital Management LLC raised its stake in AbbVie by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,764 shares of the company’s stock valued at $111,000 after buying an additional 882 shares during the last quarter. First PREMIER Bank raised its stake in AbbVie by 1,850.0% in the third quarter. First PREMIER Bank now owns 1,950 shares of the company’s stock valued at $123,000 after buying an additional 1,850 shares during the last quarter. Proficio Capital Partners LLC raised its stake in AbbVie by 1.6% in the third quarter. Proficio Capital Partners LLC now owns 2,719 shares of the company’s stock valued at $171,000 after buying an additional 43 shares during the last quarter. Massey Quick & Co. LLC acquired a new stake in AbbVie during the fourth quarter valued at $177,000. Finally, D. Scott Neal Inc. raised its stake in AbbVie by 42.7% in the third quarter. D. Scott Neal Inc. now owns 2,853 shares of the company’s stock valued at $180,000 after buying an additional 854 shares during the last quarter. 66.67% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Inc (NYSE:ABBV) opened at 65.80 on Tuesday. AbbVie Inc has a 52-week low of $54.80 and a 52-week high of $68.12. The stock’s 50 day moving average is $62.44 and its 200 day moving average is $62.01. The company has a market cap of $104.88 billion, a price-to-earnings ratio of 18.13 and a beta of 1.57.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, January 27th. The company reported $1.20 earnings per share for the quarter, meeting the consensus estimate of $1.20. AbbVie had a return on equity of 141.55% and a net margin of 23.22%. The company earned $6.78 billion during the quarter, compared to analysts’ expectations of $6.92 billion. During the same period in the prior year, the business earned $1.13 earnings per share. AbbVie’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts predict that AbbVie Inc will post $5.50 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Thursday, April 13th will be given a $0.64 dividend. The ex-dividend date is Tuesday, April 11th. This represents a $2.56 annualized dividend and a dividend yield of 3.89%. AbbVie’s dividend payout ratio is 70.52%.
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Several research firms have weighed in on ABBV. Goldman Sachs Group Inc upgraded shares of AbbVie from a “buy” rating to a “conviction-buy” rating and boosted their target price for the company from $74.00 to $80.00 in a research note on Saturday, March 11th. Vetr upgraded shares of AbbVie from a “hold” rating to a “strong-buy” rating and set a $74.72 target price for the company in a research note on Monday, March 13th. Jefferies Group LLC reiterated a “buy” rating and set a $90.00 target price (up previously from $4.30) on shares of AbbVie in a research note on Tuesday, March 7th. Finally, William Blair reiterated an “outperform” rating and set a $76.00 target price on shares of AbbVie in a research note on Thursday, December 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. AbbVie currently has a consensus rating of “Hold” and an average target price of $70.69.
In other news, Chairman Richard A. Gonzalez sold 72,016 shares of the stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $64.25, for a total value of $4,627,028.00. Following the completion of the sale, the chairman now directly owns 369,113 shares of the company’s stock, valued at $23,715,510.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert A. Michael sold 5,132 shares of the stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $65.29, for a total value of $335,068.28. Following the completion of the sale, the vice president now directly owns 16,706 shares of the company’s stock, valued at $1,090,734.74. The disclosure for this sale can be found here. Insiders sold 139,599 shares of company stock valued at $9,038,322 over the last three months. 0.11% of the stock is owned by company insiders.
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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