Wharton Business Group LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 7.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,555 shares of the company’s stock after buying an additional 4,021 shares during the period. Wharton Business Group LLC’s holdings in AbbVie were worth $3,687,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. 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 during 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 during 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 during 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 during 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 during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.29% during trading on Friday, reaching $62.65. The company’s stock had a trading volume of 1,633,260 shares. The company’s 50-day moving average price is $64.24 and its 200 day moving average price is $62.49. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12. The stock has a market capitalization of $102.03 billion, a price-to-earnings ratio of 18.07 and a beta of 1.50.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data 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 net margin of 23.11% and a return on equity of 161.46%. The business earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter last year, the company posted $1.08 earnings per share. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 dividend on an annualized basis and a yield of 3.63%. AbbVie’s dividend payout ratio (DPR) is presently 65.71%.
Several research analysts have commented on the company. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Vetr lowered 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 lowered 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 reissued a “buy” rating and issued a $85.00 price objective on shares of AbbVie in a research report on Monday, August 8th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 144,138 shares in the company, valued at $9,368,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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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