Clear Harbor Asset Management LLC maintained its position in AbbVie Inc. (NYSE:ABBV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,912 shares of the company’s stock at the end of the third quarter. Clear Harbor Asset Management LLC’s holdings in AbbVie were worth $1,130,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpha Windward LLC increased its position in shares of AbbVie by 0.3% in the third quarter. Alpha Windward LLC now owns 4,547 shares of the company’s stock valued at $287,000 after buying an additional 15 shares during the period. Bollard Group LLC increased its position in shares of AbbVie by 0.4% in the third quarter. Bollard Group LLC now owns 3,709 shares of the company’s stock valued at $234,000 after buying an additional 16 shares during the period. Canal Capital Management LLC increased its position in shares of AbbVie by 0.8% in the third quarter. Canal Capital Management LLC now owns 3,853 shares of the company’s stock valued at $243,000 after buying an additional 30 shares during the period. Quadrant Capital Group LLC increased its position in shares of AbbVie by 0.4% in the third quarter. Quadrant Capital Group LLC now owns 9,374 shares of the company’s stock valued at $580,000 after buying an additional 40 shares during the period. Finally, Proficio Capital Partners LLC increased its position in shares of 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 period. 66.48% of the stock is currently owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) traded down 0.45% during trading on Thursday, reaching $61.38. The company had a trading volume of 5,384,163 shares. The stock has a market cap of $99.75 billion, a PE ratio of 16.59 and a beta of 1.58. AbbVie Inc. has a 52-week low of $51.60 and a 52-week high of $68.12. The company has a 50-day moving average price of $61.93 and a 200 day moving average price of $62.89.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 28th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. AbbVie had a return on equity of 150.77% and a net margin of 24.08%. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period last year, the firm earned $1.13 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year. On average, analysts anticipate that AbbVie Inc. will post $4.82 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 15th. Shareholders of record on Friday, January 13th will be paid a dividend of $0.64 per share. This is a positive change from AbbVie’s previous quarterly dividend of $0.57. This represents a $2.56 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Wednesday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 69.19%.
Several research analysts have weighed in on the company. Jefferies Group reiterated a “buy” rating and issued a $90.00 target price on shares of AbbVie in a research note on Tuesday, November 1st. William Blair reiterated an “outperform” rating and issued a $76.00 target price on shares of AbbVie in a research note on Thursday, December 8th. BMO Capital Markets reiterated a “market perform” rating and issued a $63.00 target price on shares of AbbVie in a research note on Tuesday, November 8th. Vetr downgraded AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.42 price target on the stock. in a research note on Thursday, December 22nd. Finally, Leerink Swann restated a “hold” rating on shares of AbbVie in a research note on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. AbbVie currently has a consensus rating of “Hold” and an average target price of $70.25.
In other AbbVie news, CFO William J. Chase sold 6,600 shares of the stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $59.19, for a total transaction of $390,654.00. Following the completion of the transaction, the chief financial officer now directly owns 178,970 shares of the company’s stock, valued at approximately $10,593,234.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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