James Investment Research Inc. purchased a new stake in AbbVie Inc (NYSE:ABBV) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 18,000 shares of the company’s stock, valued at approximately $1,741,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bristlecone Advisors LLC purchased a new position in AbbVie during the 3rd quarter worth $113,000. Ffcm LLC boosted its holdings in AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock worth $111,000 after acquiring an additional 963 shares during the last quarter. Hudock Capital Group LLC boosted its holdings in 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 acquiring an additional 806 shares during the last quarter. Hershey Trust Co. purchased a new position in AbbVie during the 3rd quarter worth $139,000. Finally, BDO Wealth Advisors LLC purchased a new position in AbbVie during the 2nd quarter worth $115,000. 70.63% of the stock is owned by institutional investors and hedge funds.
In related news, VP Robert A. Michael sold 992 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $120.31, for a total value of $119,347.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laura J. Schumacher sold 25,000 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $117.85, for a total value of $2,946,250.00. Following the completion of the sale, the insider now owns 123,317 shares in the company, valued at $14,532,908.45. The disclosure for this sale can be found here. Insiders sold a total of 443,747 shares of company stock worth $47,226,935 over the last 90 days. 0.23% of the stock is currently owned by company insiders.
Shares of AbbVie Inc (NYSE ABBV) opened at $118.30 on Tuesday. The company has a market capitalization of $187,860.00, a price-to-earnings ratio of 21.35, a PEG ratio of 1.13 and a beta of 1.52. AbbVie Inc has a 52 week low of $63.12 and a 52 week high of $125.86. The company has a debt-to-equity ratio of 6.07, a quick ratio of 1.18 and a current ratio of 1.28.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, January 26th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.04. The company had revenue of $7.74 billion for the quarter, compared to analysts’ expectations of $7.53 billion. AbbVie had a return on equity of 158.15% and a net margin of 18.82%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.20 EPS. research analysts predict that AbbVie Inc will post 7.48 earnings per share for the current fiscal year.
AbbVie announced that its Board of Directors has initiated a share buyback plan on Thursday, February 15th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Stockholders of record on Friday, April 13th will be paid a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.25%. This is a boost from AbbVie’s previous quarterly dividend of $0.71. The ex-dividend date is Thursday, April 12th. AbbVie’s payout ratio is presently 51.26%.
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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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