United Bank VA continued to hold its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, Holdings Channel reports. The firm owned 4,958 shares of the company’s stock at the end of the second quarter. United Bank VA’s holdings in AbbVie were worth $307,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of ABBV. Alexandria Capital LLC raised its stake in AbbVie by 0.4% in the first quarter. Alexandria Capital LLC now owns 4,529 shares of the company’s stock valued at $259,000 after buying an additional 16 shares in the last quarter. Bollard Group LLC raised its stake in AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,693 shares of the company’s stock valued at $229,000 after buying an additional 17 shares in the last quarter. Lathrop Investment Management Corp raised its stake in AbbVie by 0.3% in the second quarter. Lathrop Investment Management Corp now owns 6,335 shares of the company’s stock valued at $392,000 after buying an additional 21 shares in the last quarter. Regent Investment Management LLC raised its stake in AbbVie by 0.3% in the first quarter. Regent Investment Management LLC now owns 11,929 shares of the company’s stock valued at $681,000 after buying an additional 30 shares in the last quarter. Finally, Zions Bancorporation raised its stake in AbbVie by 0.4% in the first quarter. Zions Bancorporation now owns 8,271 shares of the company’s stock valued at $478,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded up 0.16% during midday trading on Friday, reaching $62.93. 3,812,671 shares of the company’s stock traded hands. The stock has a market cap of $102.48 billion, a P/E ratio of 18.15 and a beta of 1.50. The company’s 50-day moving average price is $64.13 and its 200-day moving average price is $62.54. AbbVie Inc. has a 52-week low of $45.45 and a 52-week high of $68.12.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.06. The firm earned $6.43 billion during the quarter, compared to analyst estimates of $6.20 billion. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The business’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 EPS. On average, equities analysts predict that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Wednesday, October 12th. AbbVie’s payout ratio is presently 65.71%.
A number of analysts have weighed in on the stock. Jefferies Group restated a “buy” rating and issued a $90.00 target price on shares of AbbVie in a research report on Wednesday. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $78.00 target price on shares of AbbVie in a research report on Tuesday, September 27th. Vetr upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $72.59 target price on the stock in a research report on Thursday, September 8th. Finally, JPMorgan Chase & Co. lowered shares of AbbVie from an “overweight” rating to a “neutral” rating and cut their target price for the company from $75.00 to $73.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the transaction, the insider now owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.
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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