Taylor Cottrill Erickson & Associates Inc. purchased a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,006 shares of the company’s stock, valued at approximately $2,663,000.
Other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in AbbVie by 18.9% in the second quarter. Nisa Investment Advisors LLC now owns 631,940 shares of the company’s stock valued at $39,123,000 after buying an additional 100,674 shares in the last quarter. BB&T Securities LLC boosted its position in AbbVie by 46.4% in the first quarter. BB&T Securities LLC now owns 1,379,549 shares of the company’s stock valued at $78,799,000 after buying an additional 436,945 shares in the last quarter. AXA boosted its position in AbbVie by 74.3% in the first quarter. AXA now owns 3,061,184 shares of the company’s stock valued at $174,855,000 after buying an additional 1,304,557 shares in the last quarter. RNC Capital Management LLC boosted its position in AbbVie by 1.2% in the second quarter. RNC Capital Management LLC now owns 620,340 shares of the company’s stock valued at $38,405,000 after buying an additional 7,057 shares in the last quarter. Finally, Orbis Allan Gray Ltd purchased a new position in AbbVie during the first quarter valued at approximately $281,766,000. 68.35% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Inc. (NYSE:ABBV) opened at 60.17 on Monday. The company has a 50-day moving average of $63.50 and a 200 day moving average of $62.68. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12. The stock has a market capitalization of $97.99 billion, a price-to-earnings ratio of 17.36 and a beta of 1.50.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same period last year, the firm earned $1.08 earnings per share. The company’s quarterly revenue was up 17.8% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post $4.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.79%. AbbVie’s payout ratio is 65.71%.
ABBV has been the topic of several recent analyst reports. Goldman Sachs Group Inc. reissued a “buy” rating and set a $78.00 target price on shares of AbbVie in a research report on Tuesday, September 27th. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.75 price target on the stock. in a report on Wednesday, June 29th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $66.00 price target on shares of AbbVie in a report on Friday, July 29th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of AbbVie in a report on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. AbbVie has a consensus rating of “Buy” and an average target price of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total transaction 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 $9,368,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
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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