Huntington National Bank continued to hold its stake in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 514,827 shares of the company’s stock at the end of the second quarter. Huntington National Bank’s holdings in AbbVie were worth $30,138,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in ABBV. Alexandria Capital LLC boosted its stake in shares of AbbVie by 0.4% in the first quarter. Alexandria Capital LLC now owns 4,529 shares of the company’s stock worth $259,000 after buying an additional 16 shares during the last quarter. Bollard Group LLC boosted its stake 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 stake 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. Zions Bancorporation boosted its stake in shares of AbbVie by 0.4% in the first quarter. Zions Bancorporation now owns 8,271 shares of the company’s stock worth $478,000 after buying an additional 34 shares during the last quarter. Finally, Capital Asset Advisory Services LLC boosted its stake in shares of AbbVie by 1.9% in the second quarter. Capital Asset Advisory Services LLC now owns 3,575 shares of the company’s stock worth $221,000 after buying an additional 65 shares during the last quarter. 68.36% of the stock is owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) traded down 0.10% during mid-day trading on Thursday, reaching $61.15. 5,981,442 shares of the company’s stock were exchanged. The stock has a market cap of $99.59 billion, a price-to-earnings ratio of 17.64 and a beta of 1.50. The stock has a 50-day moving average of $63.75 and a 200-day moving average of $62.66. AbbVie Inc. has a one year low of $45.45 and a one year high of $68.12.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.06. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share. On average, equities research analysts anticipate that AbbVie Inc. will post $4.81 earnings per share for the current year.
The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.73%. AbbVie’s payout ratio is 65.71%.
A number of brokerages have recently issued reports on ABBV. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 target price for the company. in a research report on Thursday, June 16th. Argus reissued a “buy” rating and issued a $85.00 target price on shares of AbbVie in a research report on Monday, August 8th. Zacks Investment Research raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $68.00 price objective on shares of AbbVie in a research report on Tuesday, August 2nd. 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 assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction 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 directly owns 144,138 shares of the company’s stock, valued at $9,368,970. The sale was disclosed in a legal filing with the SEC, which is available 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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