AbbVie Inc. (ABBV) Shares Bought by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 18.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 631,940 shares of the company’s stock after buying an additional 100,674 shares during the period. Nisa Investment Advisors LLC’s holdings in AbbVie were worth $39,123,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CapWealth Advisors LLC increased its position 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 during the last quarter. Hartford Financial Management Inc. increased its position in AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock worth $115,000 after buying an additional 979 shares during the last quarter. Warren Averett Asset Management LLC purchased a new position in AbbVie during the second quarter worth about $207,000. First American Trust FSB purchased a new position in AbbVie during the second quarter worth about $208,000. Finally, Capital Asset Advisory Services LLC increased its position in AbbVie by 1.9% in the second quarter. Capital Asset Advisory Services LLC now owns 3,575 shares of the company’s stock worth $221,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded up 0.40% during trading on Friday, reaching $63.07. The company’s stock had a trading volume of 7,325,429 shares. The company has a market cap of $102.71 billion, a price-to-earnings ratio of 18.19 and a beta of 1.49. The stock’s 50 day moving average is $64.69 and its 200 day moving average is $62.29. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. The firm earned $6.43 billion during the quarter, compared to analyst estimates of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. On average, equities analysts expect that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio is currently 65.71%.
Several brokerages recently commented on ABBV. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Vetr cut AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price target for the company. in a research report on Tuesday, July 26th. Jefferies Group reissued a “buy” rating on shares of AbbVie in a research report on Monday, June 6th. BMO Capital Markets reissued a “market perform” rating and set a $66.00 price target on shares of AbbVie in a research report on Friday, July 29th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. AbbVie presently has a consensus rating of “Buy” and a consensus price target of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total value 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 SEC, which is accessible through this hyperlink. Company 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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