NTV Asset Management LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 33,903 shares of the company’s stock after buying an additional 1,222 shares during the period. NTV Asset Management LLC’s holdings in AbbVie were worth $2,098,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of ABBV. Geode Capital Management LLC boosted its position in shares of 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 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 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 AbbVie during the first quarter valued at approximately $281,766,000. Finally, Swiss National Bank boosted its position in 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. 68.36% of the stock is owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.44% during midday trading on Thursday, hitting $63.11. The stock had a trading volume of 1,410,420 shares. The stock has a 50-day moving average of $64.35 and a 200 day moving average of $62.49. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12. The stock has a market cap of $102.78 billion, a PE ratio of 18.20 and a beta of 1.50.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.20 by $0.06. The business 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%. The firm’s revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. Analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a $0.57 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.60%. AbbVie’s payout ratio is currently 65.71%.
Several research firms recently commented on ABBV. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Vetr cut 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 reiterated a “buy” rating and issued a $90.00 price target on shares of AbbVie in a research note on Wednesday. BMO Capital Markets reiterated 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 upgraded AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $70.68.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction on 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 sale, the insider now directly owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by company 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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