Trust Co of Kansas lessened its stake in shares of AbbVie Inc. (NYSE:ABBV – Get Rating) by 8.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,691 shares of the company’s stock after selling 261 shares during the quarter. Trust Co of Kansas’ holdings in AbbVie were worth $361,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capasso Planning Partners LLC grew its holdings in AbbVie by 2.2% in the 2nd quarter. Capasso Planning Partners LLC now owns 3,238 shares of the company’s stock valued at $496,000 after buying an additional 71 shares during the period. GYL Financial Synergies LLC grew its holdings in shares of AbbVie by 0.7% during the 3rd quarter. GYL Financial Synergies LLC now owns 10,051 shares of the company’s stock worth $1,349,000 after purchasing an additional 72 shares during the period. Syntal Capital Partners LLC grew its holdings in shares of AbbVie by 0.9% during the 3rd quarter. Syntal Capital Partners LLC now owns 7,811 shares of the company’s stock worth $1,048,000 after purchasing an additional 72 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in AbbVie by 1.3% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 5,980 shares of the company’s stock worth $803,000 after acquiring an additional 74 shares in the last quarter. Finally, Libra Wealth LLC lifted its position in AbbVie by 2.5% during the 3rd quarter. Libra Wealth LLC now owns 3,135 shares of the company’s stock worth $421,000 after acquiring an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 67.71% of the company’s stock.
Insider Buying and Selling
In other AbbVie news, CFO Scott T. Reents sold 15,942 shares of AbbVie stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $153.08, for a total transaction of $2,440,401.36. Following the sale, the chief financial officer now owns 809 shares of the company’s stock, valued at approximately $123,841.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Scott T. Reents sold 15,942 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $153.08, for a total transaction of $2,440,401.36. Following the completion of the sale, the chief financial officer now directly owns 809 shares in the company, valued at $123,841.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey Ryan Stewart sold 53,125 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $152.28, for a total transaction of $8,089,875.00. Following the completion of the sale, the executive vice president now owns 60,941 shares of the company’s stock, valued at approximately $9,280,095.48. The disclosure for this sale can be found here. Insiders sold 159,746 shares of company stock valued at $24,267,450 in the last three months. 0.08% of the stock is currently owned by corporate insiders.
AbbVie Stock Up 0.1 %
AbbVie (NYSE:ABBV – Get Rating) last posted its earnings results on Thursday, February 9th. The company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.06. The company had revenue of $15.12 billion for the quarter, compared to analysts’ expectations of $15.30 billion. AbbVie had a return on equity of 154.52% and a net margin of 20.39%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the business posted $3.31 earnings per share. Equities analysts anticipate that AbbVie Inc. will post 11 EPS for the current year.
AbbVie Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 15th. Stockholders of record on Friday, April 14th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, April 13th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.84%. AbbVie’s dividend payout ratio (DPR) is presently 89.56%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on ABBV shares. Wolfe Research downgraded shares of AbbVie from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, February 22nd. They noted that the move was a valuation call. Guggenheim began coverage on shares of AbbVie in a research note on Tuesday, February 28th. They set a “buy” rating and a $172.00 price target on the stock. Piper Sandler lifted their price target on shares of AbbVie from $157.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, February 9th. SVB Securities raised shares of AbbVie from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $135.00 to $153.00 in a research note on Friday, February 10th. Finally, SVB Leerink upgraded AbbVie from an “underperform” rating to a “market perform” rating and increased their target price for the company from $135.00 to $153.00 in a research note on Friday, February 10th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $161.12.
AbbVie, Inc is a research-based biopharmaceutical company, which engages in the development and sale of pharmaceutical products. It focuses on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology, and dermatology, oncology, including blood cancers, virology, hepatitis C virus (HCV) and human immunodeficiency virus (HIV), neurological disorders, such as Parkinson’s, metabolic, comprising thyroid disease and complications associated with cystic fibrosis, pain associated with endometriosis, and other serious health conditions.
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