Global Trust Asset Management LLC lifted its holdings in shares of AbbVie Inc. (NYSE:ABBV – Free Report) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,475 shares of the company’s stock after purchasing an additional 208 shares during the quarter. Global Trust Asset Management LLC’s holdings in AbbVie were worth $884,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. FCG Investment Co acquired a new position in shares of AbbVie during the 1st quarter worth $1,413,000. BluePath Capital Management LLC increased its stake in shares of AbbVie by 0.9% during the 1st quarter. BluePath Capital Management LLC now owns 7,311 shares of the company’s stock worth $1,331,000 after purchasing an additional 67 shares during the last quarter. Palisade Asset Management LLC increased its stake in shares of AbbVie by 65.6% during the 1st quarter. Palisade Asset Management LLC now owns 97,341 shares of the company’s stock worth $17,726,000 after purchasing an additional 38,562 shares during the last quarter. First Hawaiian Bank increased its stake in shares of AbbVie by 9.0% during the 2nd quarter. First Hawaiian Bank now owns 32,099 shares of the company’s stock worth $5,506,000 after purchasing an additional 2,657 shares during the last quarter. Finally, PGGM Investments increased its stake in shares of AbbVie by 308.1% during the 2nd quarter. PGGM Investments now owns 32,790 shares of the company’s stock worth $5,624,000 after purchasing an additional 24,756 shares during the last quarter. Institutional investors and hedge funds own 70.23% of the company’s stock.
Insider Activity
In other news, Chairman Richard A. Gonzalez sold 66,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $186.52, for a total value of $12,403,580.00. Following the completion of the transaction, the chairman now owns 446,599 shares of the company’s stock, valued at $83,299,645.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on ABBV
AbbVie Stock Up 1.0 %
Shares of NYSE ABBV opened at $189.68 on Friday. The firm has a market capitalization of $334.95 billion, a PE ratio of 56.28, a price-to-earnings-growth ratio of 2.66 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.71 and a debt-to-equity ratio of 8.51. AbbVie Inc. has a 1 year low of $135.85 and a 1 year high of $199.95. The firm’s 50-day moving average is $194.22 and its 200-day moving average is $178.08.
AbbVie (NYSE:ABBV – Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.57 by $0.08. The firm had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.02 billion. AbbVie had a net margin of 9.71% and a return on equity of 203.66%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.91 earnings per share. Equities analysts expect that AbbVie Inc. will post 10.85 EPS for the current year.
AbbVie Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend is Tuesday, October 15th. AbbVie’s dividend payout ratio (DPR) is 183.98%.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.
Read More
- Five stocks we like better than AbbVie
- Why Invest in 5G? How to Invest in 5G Stocks
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- Dividend King Proctor & Gamble Is A Buy On Post-Earnings Weakness
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- Tesla Stock: Buy the Dips, Sell the Rips
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV – Free Report).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.