Cadence Bank NA boosted its stake in AbbVie Inc. (NYSE:ABBV) by 0.0% during the second quarter, Holdings Channel reports. The fund owned 16,591 shares of the company’s stock after buying an additional 6 shares during the period. Cadence Bank NA’s holdings in AbbVie were worth $1,027,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of ABBV. Acropolis Investment Management LLC acquired a new position in AbbVie during the second quarter worth $106,000. CapWealth Advisors LLC raised its position in AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock worth $103,000 after buying an additional 639 shares during the period. Cypress Capital Management LLC WY acquired a new position in AbbVie during the second quarter worth $114,000. Hartford Financial Management Inc. raised its position in AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock worth $115,000 after buying an additional 979 shares during the period. Finally, Americafirst Capital Management LLC acquired a new position in AbbVie during the second quarter worth $122,000. Institutional investors own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 1.11% during trading on Monday, hitting $64.26. 3,263,697 shares of the company were exchanged. The company’s 50-day moving average price is $65.09 and its 200 day moving average price is $62.03. The stock has a market cap of $104.65 billion, a P/E ratio of 18.53 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 posted its quarterly earnings results 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 company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.20 billion. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. AbbVie’s revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.08 earnings per share. On average, equities analysts predict that AbbVie Inc. will post $4.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio is currently 65.71%.
Several analysts have recently commented on the stock. Credit Suisse Group AG reaffirmed a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price target on the stock. in a research report on Tuesday, July 26th. Jefferies Group reaffirmed a “buy” rating on shares of AbbVie in a research report on Monday, June 6th. BMO Capital Markets reaffirmed a “market perform” rating and set a $66.00 price target on shares of AbbVie in a research report on Friday, July 29th. Finally, Zacks Investment Research raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $70.39.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the transaction, the insider now owns 144,138 shares of the company’s stock, valued at $9,368,970. The transaction was disclosed in a legal 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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