Nichols Asset Management LLC Has $564,000 Position in AbbVie Inc. (ABBV)
Nichols Asset Management LLC held its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, Holdings Channel reports. The institutional investor owned 9,110 shares of the company’s stock at the end of the second quarter. AbbVie makes up approximately 1.1% of Nichols Asset Management LLC’s holdings, making the stock its 28th largest position. Nichols Asset Management LLC’s holdings in AbbVie were worth $564,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. CapWealth Advisors LLC increased its stake in AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock worth $103,000 after buying an additional 639 shares in the last quarter. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at about $106,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the second quarter valued at about $114,000. Hartford Financial Management Inc. increased its stake in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares during the period. Finally, Americafirst Capital Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at about $122,000. Institutional investors own 68.38% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded up 0.59% during mid-day trading on Tuesday, reaching $63.28. The company’s stock had a trading volume of 4,826,255 shares. The firm has a 50 day moving average price of $65.35 and a 200 day moving average price of $61.88. The company has a market cap of $103.05 billion, a price-to-earnings ratio of 18.25 and a beta of 1.49. AbbVie Inc. has a 52-week low of $45.45 and a 52-week high of $68.12.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The business earned $6.43 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company posted $1.08 EPS. The firm’s revenue was up 17.8% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post $4.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s payout ratio is 65.71%.
Several equities research analysts have issued reports on ABBV shares. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $64.09 price target for the company. in a report on Thursday, May 26th. Cowen and Company downgraded AbbVie from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $77.00 to $70.00 in a report on Monday, June 6th. JPMorgan Chase & Co. restated a “buy” rating on shares of AbbVie in a report on Monday, June 6th. Deutsche Bank AG restated a “hold” rating on shares of AbbVie in a report on Tuesday, June 7th. Finally, Morgan Stanley downgraded AbbVie from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $73.00 to $65.00 in a report on Monday, June 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $70.39.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction dated Wednesday, September 7th. The stock was 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 owns 144,138 shares in the company, valued at approximately $9,368,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura J. Schumacher sold 186,106 shares of AbbVie stock in a transaction dated Friday, June 24th. The shares were sold at an average price of $60.03, for a total value of $11,171,943.18. Following the transaction, the executive vice president now owns 260,438 shares of the company’s stock, valued at approximately $15,634,093.14. The disclosure for this sale can be found here. 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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