Cribstone Capital Management LLC decreased its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,143 shares of the company’s stock after selling 200 shares during the period. Cribstone Capital Management LLC’s holdings in AbbVie were worth $228,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in ABBV. Acropolis Investment Management LLC purchased a new stake in AbbVie during the second quarter worth approximately $106,000. First Command Financial Services Inc. boosted 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. boosted 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, Patriot Financial Group Insurance Agency LLC bought a new stake in AbbVie during the fourth quarter valued at about $137,000. 67.69% of the stock is currently owned by institutional investors.
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. The stock’s 50 day moving average is $71.72 and its 200 day moving average is $67.10. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $75.04. The stock has a market cap of $111.52 billion, a P/E ratio of 17.21 and a beta of 1.50.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The business had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the company earned $1.26 earnings per share. AbbVie’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were issued a dividend of $0.64 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $2.56 annualized dividend and a dividend yield of 3.66%. AbbVie’s dividend payout ratio is 62.90%.
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Several research firms have recently issued reports on ABBV. Evercore ISI began coverage on shares of AbbVie in a research report on Wednesday. They set an “outperform” rating and a $95.00 price objective on the stock. BidaskClub cut shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 target price on shares of AbbVie in a report on Thursday, August 3rd. Cowen and Company set a $70.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Sunday, July 30th. Finally, Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective for the company in a research note on Wednesday, July 26th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $76.02.
In other news, EVP Carlos Alban sold 45,800 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $3,206,000.00. Following the sale, the executive vice president now directly owns 160,545 shares of the company’s stock, valued at $11,238,150. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward J. Rapp purchased 4,000 shares of the stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $70.45 per share, for a total transaction of $281,800.00. Following the completion of the transaction, the director now owns 15,498 shares of the company’s stock, valued at approximately $1,091,834.10. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 490,491 shares of company stock valued at $34,684,639. 0.23% of the stock is owned by corporate 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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