Columbia Asset Management raised its stake in AbbVie Inc. (NYSE:ABBV) by 0.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,498 shares of the company’s stock after buying an additional 5 shares during the period. Columbia Asset Management’s holdings in AbbVie were worth $1,702,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Alexandria Capital LLC boosted its position in shares of AbbVie by 0.3% in the second quarter. Alexandria Capital LLC now owns 4,543 shares of the company’s stock worth $281,000 after buying an additional 14 shares in the last quarter. Bollard Group LLC boosted its position in shares of AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,693 shares of the company’s stock worth $229,000 after buying an additional 17 shares in the last quarter. Lathrop Investment Management Corp boosted its position in shares of AbbVie by 0.3% in the second quarter. Lathrop Investment Management Corp now owns 6,335 shares of the company’s stock worth $392,000 after buying an additional 21 shares in the last quarter. Regent Investment Management LLC boosted its position in shares of AbbVie by 0.3% in the first quarter. Regent Investment Management LLC now owns 11,929 shares of the company’s stock worth $681,000 after buying an additional 30 shares in the last quarter. Finally, Texan Capital Management boosted its position in shares of AbbVie by 0.4% in the second quarter. Texan Capital Management now owns 8,312 shares of the company’s stock worth $515,000 after buying an additional 33 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.9802% during midday trading on Wednesday, reaching $63.6175. The company had a trading volume of 1,532,925 shares. The firm has a market capitalization of $103.60 billion, a price-to-earnings ratio of 18.3494 and a beta of 1.50. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12. The stock has a 50-day moving average of $64.45 and a 200 day moving average of $62.48.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the previous year, the business earned $1.08 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post $4.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be given a $0.57 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $2.28 annualized dividend and a dividend yield of 3.62%. AbbVie’s payout ratio is 65.71%.
A number of research analysts have recently commented on the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 price objective on the stock. in a report on Thursday, June 16th. BMO Capital Markets cut AbbVie from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $70.00 to $66.00 in a report on Friday, June 10th. Argus reissued a “buy” rating and set a $85.00 price objective on shares of AbbVie in a report on Monday, August 8th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of AbbVie in a report on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. AbbVie has an average rating of “Buy” and an average target price of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 144,138 shares in the company, valued at $9,368,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is owned by 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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