Bank of Montreal Can purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, Holdings Channel reports. The fund purchased 1,517,352 shares of the company’s stock, valued at approximately $93,942,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stokes & Hubbell Capital Management LLC boosted its position in shares of AbbVie by 2.2% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 34,853 shares of the company’s stock valued at $1,991,000 after buying an additional 742 shares in the last quarter. OLD National Bancorp IN boosted its position in shares of AbbVie by 99.2% in the first quarter. OLD National Bancorp IN now owns 311,692 shares of the company’s stock valued at $17,804,000 after buying an additional 155,192 shares in the last quarter. Legacy Private Trust Co. boosted its position in shares of AbbVie by 3.2% in the first quarter. Legacy Private Trust Co. now owns 38,338 shares of the company’s stock valued at $2,190,000 after buying an additional 1,183 shares in the last quarter. Lodestar Investment Counsel LLC IL boosted its position in shares of AbbVie by 68.3% in the first quarter. Lodestar Investment Counsel LLC IL now owns 24,062 shares of the company’s stock valued at $1,374,000 after buying an additional 9,763 shares in the last quarter. Finally, Vicus Capital boosted its position in shares of AbbVie by 35.7% in the first quarter. Vicus Capital now owns 5,916 shares of the company’s stock valued at $338,000 after buying an additional 1,557 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 1.45% during trading on Tuesday, hitting $62.39. The stock had a trading volume of 5,308,309 shares. AbbVie Inc. has a 12-month low of $45.45 and a 12-month high of $68.12. The company has a market cap of $101.60 billion, a PE ratio of 18.00 and a beta of 1.50. The stock’s 50 day moving average is $64.02 and its 200-day moving average is $62.67.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, beating the 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 firm earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period last year, the business posted $1.08 EPS. AbbVie’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts forecast that AbbVie Inc. will post $4.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s payout ratio is currently 65.71%.
A number of analysts have recently commented on the company. Credit Suisse Group AG restated a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Vetr lowered AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price target on the stock. in a research note on Tuesday, July 26th. Jefferies Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of AbbVie in a research note on Wednesday, October 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $66.00 price target on shares of AbbVie in a research note on Friday, July 29th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company 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 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 completion of the transaction, the insider now directly owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.
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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