Segment Wealth Management LLC raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,610 shares of the company’s stock after buying an additional 17 shares during the period. Segment Wealth Management LLC’s holdings in AbbVie were worth $472,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Windsor Capital Management LLC raised its stake in AbbVie by 2.9% in the second quarter. Windsor Capital Management LLC now owns 12,944 shares of the company’s stock worth $801,000 after buying an additional 360 shares in the last quarter. Mark Sheptoff Financial Planning LLC raised its stake in AbbVie by 2.0% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 41,108 shares of the company’s stock worth $2,545,000 after buying an additional 806 shares in the last quarter. SSI Investment Management Inc. raised its stake in AbbVie by 1.7% in the second quarter. SSI Investment Management Inc. now owns 4,154 shares of the company’s stock worth $256,000 after buying an additional 69 shares in the last quarter. Victory Capital Management Inc. raised its stake in AbbVie by 5.7% in the second quarter. Victory Capital Management Inc. now owns 94,780 shares of the company’s stock worth $5,868,000 after buying an additional 5,126 shares in the last quarter. Finally, Aspiriant LLC purchased a new stake in AbbVie during the second quarter worth $261,000. Institutional investors and hedge funds own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.28% during mid-day trading on Thursday, hitting $61.38. 1,184,248 shares of the stock traded hands. The stock has a market cap of $99.96 billion, a price-to-earnings ratio of 17.70 and a beta of 1.50. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12. The firm has a 50 day moving average of $63.75 and a 200 day moving average of $62.66.
AbbVie (NYSE:ABBV) last released 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 the consensus estimate of $6.20 billion. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. On average, equities analysts expect that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio (DPR) is currently 65.71%.
A number of research firms have recently weighed in on ABBV. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Vetr downgraded shares of AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price target for the company. in a research note on Tuesday, July 26th. Jefferies Group reissued 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 reissued 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 shares of AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. 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 issued 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 news, insider Laura J. Schumacher sold 50,000 shares of the company’s 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 of the company’s stock, valued at approximately $9,368,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by 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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