Signet Investment Advisory Group Inc. purchased a new position in AbbVie Inc (NYSE:ABBV) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 675 shares of the company’s stock, valued at approximately $62,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horrell Capital Management Inc. purchased a new stake in AbbVie during the fourth quarter valued at about $41,000. Massey Quick Simon & CO. LLC purchased a new stake in AbbVie during the fourth quarter valued at about $64,000. Lenox Wealth Management Inc. purchased a new stake in AbbVie during the fourth quarter valued at about $88,000. Brand Asset Management Group Inc. grew its position in AbbVie by 60.7% during the fourth quarter. Brand Asset Management Group Inc. now owns 1,059 shares of the company’s stock valued at $98,000 after acquiring an additional 400 shares during the period. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in AbbVie during the third quarter valued at about $112,000. 69.58% of the stock is owned by institutional investors.
In related news, EVP Azita Saleki-Gerhardt sold 15,797 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $79.03, for a total value of $1,248,436.91. Following the completion of the transaction, the executive vice president now owns 93,312 shares of the company’s stock, valued at $7,374,447.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Laura J. Schumacher sold 25,000 shares of the stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $90.00, for a total value of $2,250,000.00. Following the completion of the transaction, the insider now directly owns 134,322 shares of the company’s stock, valued at approximately $12,088,980. The disclosure for this sale can be found here. Insiders sold 90,797 shares of company stock valued at $7,748,437 in the last three months. 0.07% of the stock is currently owned by company insiders.
Shares of ABBV opened at $79.87 on Tuesday. The stock has a market capitalization of $119.98 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 1.23 and a beta of 1.17. AbbVie Inc has a one year low of $75.77 and a one year high of $114.98.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, January 25th. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.02). The business had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.37 billion. AbbVie had a net margin of 17.36% and a negative return on equity of 439.07%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 EPS. As a group, equities analysts forecast that AbbVie Inc will post 8.68 EPS for the current fiscal year.
AbbVie announced that its Board of Directors has initiated a stock buyback plan on Thursday, December 13th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Monday, April 15th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 5.36%. The ex-dividend date of this dividend is Friday, April 12th. AbbVie’s dividend payout ratio is currently 54.11%.
TRADEMARK VIOLATION NOTICE: This article was posted by Week Herald and is the property of of Week Herald. If you are accessing this article on another domain, it was stolen and reposted in violation of US & international trademark and copyright laws. The correct version of this article can be viewed at https://weekherald.com/2019/03/19/signet-investment-advisory-group-inc-invests-62000-in-abbvie-inc-abbv.html.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a therapy administered as an injection for autoimmune diseases; IMBRUVICA, an oral therapy for treating chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C.
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).
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.