Notis McConarty Edward maintained its position in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 35,041 shares of the company’s stock at the end of the second quarter. AbbVie accounts for approximately 1.5% of Notis McConarty Edward’s portfolio, making the stock its 24th largest position. Notis McConarty Edward’s holdings in AbbVie were worth $2,170,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of ABBV. Geode Capital Management LLC boosted its position in AbbVie by 0.7% in the first quarter. Geode Capital Management LLC now owns 13,051,181 shares of the company’s stock worth $743,963,000 after buying an additional 93,719 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of AbbVie by 52.4% in the second quarter. Ameriprise Financial Inc. now owns 10,364,784 shares of the company’s stock valued at $641,739,000 after buying an additional 3,562,980 shares during the period. Franklin Resources Inc. boosted its position in shares of AbbVie by 2.1% in the first quarter. Franklin Resources Inc. now owns 5,623,069 shares of the company’s stock valued at $321,188,000 after buying an additional 115,458 shares during the period. Orbis Allan Gray Ltd acquired a new position in shares of AbbVie during the first quarter valued at about $281,766,000. Finally, Swiss National Bank boosted its position in shares of AbbVie by 6.3% in the second quarter. Swiss National Bank now owns 4,516,229 shares of the company’s stock valued at $279,600,000 after buying an additional 269,100 shares during the period. Institutional investors own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.29% during mid-day trading on Friday, hitting $62.65. 1,633,260 shares of the stock traded hands. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12. The company’s 50-day moving average price is $64.24 and its 200 day moving average price is $62.49. The company has a market capitalization of $102.03 billion, a PE ratio of 18.07 and a beta of 1.50.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.06. The company had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.20 billion. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. AbbVie’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. Equities research analysts forecast that AbbVie Inc. will post $4.81 EPS for the current fiscal 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. This represents a $2.28 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Wednesday, October 12th. AbbVie’s payout ratio is 65.71%.
ABBV has been the subject of several recent research reports. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $78.00 price objective on shares of AbbVie in a research note on Tuesday, September 27th. Jefferies Group reaffirmed a “buy” rating and issued a $90.00 price objective on shares of AbbVie in a research note on Wednesday. JPMorgan Chase & Co. lowered shares of AbbVie from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $75.00 to $73.00 in a research note on Thursday, September 8th. They noted that the move was a valuation call. Finally, Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $67.63 price objective on the stock in a research note on Thursday, August 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the transaction, the insider now owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate 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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