Kidder Stephen W Has $2,372,000 Stake in AbbVie Inc. (ABBV)
Kidder Stephen W increased its position in AbbVie Inc. (NYSE:ABBV) by 1.3% during the second quarter, Holdings Channel reports. The firm owned 38,310 shares of the company’s stock after buying an additional 500 shares during the period. Kidder Stephen W’s holdings in AbbVie were worth $2,372,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. BB&T Securities LLC boosted its stake 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 stake 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. Nisa Investment Advisors LLC boosted its stake 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. Orbis Allan Gray Ltd acquired a new stake in AbbVie during the first quarter valued at approximately $281,766,000. Finally, Adage Capital Partners GP L.L.C. boosted its stake in AbbVie by 15.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,634,632 shares of the company’s stock valued at $150,490,000 after buying an additional 348,015 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded down 0.67% during trading on Monday, hitting $62.65. The stock had a trading volume of 2,162,384 shares. The firm has a market cap of $102.03 billion, a P/E ratio of 18.07 and a beta of 1.50. The company has a 50-day moving average of $64.69 and a 200 day moving average of $62.29. AbbVie Inc. has a 52-week low of $45.45 and a 52-week high of $68.12.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.06. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The company’s revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 EPS. On average, equities research analysts predict that AbbVie Inc. will post $4.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued 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 dividend yield of 3.62%. AbbVie’s payout ratio is 65.71%.
A number of brokerages have commented on ABBV. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 price objective for the company. in a research note on Thursday, June 23rd. Jefferies Group reissued a “buy” rating on shares of AbbVie in a research note on Monday, June 6th. JPMorgan Chase & Co. reissued a “buy” rating on shares of AbbVie in a research note on Monday, June 6th. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Finally, Argus reissued a “buy” rating and issued a $85.00 price objective on shares of AbbVie in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction on 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 transaction, 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 is available through this link. 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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