St. Louis Trust Co lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 27.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,352 shares of the company’s stock after selling 1,248 shares during the period. St. Louis Trust Co’s holdings in AbbVie were worth $208,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. CapWealth Advisors LLC boosted its stake in shares of AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock valued at $103,000 after buying an additional 639 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at $106,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the second quarter valued at $114,000. Hartford Financial Management Inc. boosted its stake in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at $122,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.15% during trading on Friday, reaching $64.98. 5,154,154 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $65.09 and a 200 day moving average price of $62.03. The company has a market capitalization of $105.82 billion, a P/E ratio of 18.74 and a beta of 1.49. AbbVie Inc. has a 12-month low of $45.45 and a 12-month high of $68.12.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The business earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period last year, the company earned $1.08 EPS. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 65.71%.
Several equities research analysts recently weighed in on the stock. Credit Suisse Group AG restated a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 price objective on the stock. in a research report on Thursday, June 16th. BMO Capital Markets cut shares of AbbVie from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $70.00 to $66.00 in a research report on Friday, June 10th. Argus reiterated a “buy” rating and set a $85.00 price objective on shares of AbbVie in a research report on Monday, August 8th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of AbbVie in a research report on Tuesday, June 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $70.39.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. Following the completion of the sale, the insider now directly owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.
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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