Airain ltd lowered its stake in shares of AbbVie Inc. (NYSE:ABBV) by 91.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,784 shares of the company’s stock after selling 285,699 shares during the period. Airain ltd’s holdings in AbbVie were worth $1,658,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of The West raised its stake in shares of AbbVie by 9.5% in the second quarter. Bank of The West now owns 124,753 shares of the company’s stock valued at $7,724,000 after buying an additional 10,817 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of AbbVie by 2.4% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 20,245 shares of the company’s stock valued at $1,253,000 after buying an additional 469 shares during the last quarter. Torray LLC acquired a new stake in shares of AbbVie during the second quarter valued at approximately $560,000. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of AbbVie by 112.6% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,225 shares of the company’s stock valued at $571,000 after buying an additional 4,885 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. raised its stake in shares of AbbVie by 5.4% in the second quarter. Adell Harriman & Carpenter Inc. now owns 107,411 shares of the company’s stock valued at $6,650,000 after buying an additional 5,496 shares during the last quarter. Institutional investors own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded up 1.4666% during midday trading on Thursday, reaching $65.0401. The company’s stock had a trading volume of 4,323,070 shares. The firm has a market cap of $105.92 billion, a price-to-earnings ratio of 18.7598 and a beta of 1.49. The company has a 50 day moving average price of $65.17 and a 200 day moving average price of $61.95. AbbVie Inc. has a 1-year low of $45.45 and a 1-year 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. The business earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 EPS. On average, equities research analysts expect that AbbVie Inc. will post $4.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders 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 dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio (DPR) is 65.71%.
Several analysts have commented on the company. Vetr raised AbbVie from a “buy” rating to a “strong-buy” rating and set a $72.59 price objective on the stock in a report on Thursday, September 8th. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $78.00 price objective on shares of AbbVie in a report on Thursday, September 8th. JPMorgan Chase & Co. lowered AbbVie from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $75.00 to $73.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. Raymond James Financial Inc. assumed coverage on AbbVie in a research note on Thursday, September 1st. They issued an “outperform” rating and a $82.00 price target on the stock. Finally, Jefferies Group reaffirmed a “buy” rating on shares of AbbVie in a research note on Thursday, August 25th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. AbbVie currently has an average rating of “Buy” and an average target price of $70.39.
In related news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 144,138 shares in the company, valued at approximately $9,368,970. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Laura J. Schumacher sold 186,106 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The stock was sold at an average price of $60.03, for a total value of $11,171,943.18. Following the completion of the sale, the executive vice president now owns 260,438 shares in the company, valued at approximately $15,634,093.14. The disclosure for this sale can be found here. 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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