Kimelman & Baird LLC lowered its stake in shares of AbbVie Inc (NYSE:ABBV) by 0.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,400 shares of the company’s stock after selling 100 shares during the quarter. Kimelman & Baird LLC’s holdings in AbbVie were worth $2,059,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of ABBV. Acropolis Investment Management LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of AbbVie during the 1st quarter worth about $108,000. Hudock Capital Group LLC grew its holdings in shares of AbbVie by 109.5% during the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock worth $111,000 after purchasing an additional 806 shares during the period. Ffcm LLC grew its holdings in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after purchasing an additional 963 shares during the period. Finally, BDO Wealth Advisors LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth about $115,000. 69.32% of the stock is owned by institutional investors.
AbbVie Inc (NYSE ABBV) opened at $96.30 on Friday. AbbVie Inc has a 52-week low of $59.27 and a 52-week high of $98.87. The stock has a market capitalization of $155,412.45, a P/E ratio of 18.33, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Thursday, January 11th. AbbVie’s dividend payout ratio is presently 62.29%.
A number of brokerages have recently issued reports on ABBV. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a report on Friday, October 20th. ValuEngine cut AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. BMO Capital Markets set a $84.00 target price on AbbVie and gave the stock a “hold” rating in a report on Monday, December 4th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 11th. Finally, Leerink Swann set a $106.00 target price on AbbVie and gave the stock a “buy” rating in a report on Tuesday, December 5th. Seven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $97.96.
In other AbbVie news, Chairman Richard A. Gonzalez sold 218,193 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the transaction, the chairman now directly owns 492,030 shares of the company’s stock, valued at approximately $46,255,740.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the transaction, the vice president now directly owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 268,825 shares of company stock worth $25,186,090. 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.
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