AbbVie Inc. (ABBV) Shares Bought by Accredited Investors Inc.
Accredited Investors Inc. increased its stake in AbbVie Inc. (NYSE:ABBV) by 20.0% during the second quarter, Holdings Channel reports. The institutional investor owned 5,119 shares of the company’s stock after buying an additional 852 shares during the period. Accredited Investors Inc.’s holdings in AbbVie were worth $264,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of ABBV. CapWealth Advisors LLC raised its stake in shares of AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock valued at $103,000 after buying an additional 639 shares during the period. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at $106,000. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the second quarter valued at $114,000. Hartford Financial Management Inc. raised 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 $122,000. Institutional investors own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.16% on Friday, reaching $62.93. 3,812,671 shares of the company were exchanged. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12. The company has a market cap of $102.48 billion, a price-to-earnings ratio of 18.15 and a beta of 1.50. The company’s 50-day moving average price is $64.13 and its 200 day moving average price is $62.54.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The company 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 company posted $1.08 EPS. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post $4.81 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.62%. AbbVie’s payout ratio is currently 65.71%.
ABBV has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Wednesday, September 28th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $78.00 price target on shares of AbbVie in a research report on Tuesday, September 27th. Jefferies Group restated a “buy” rating and issued a $90.00 price target on shares of AbbVie in a research report on Wednesday. JPMorgan Chase & Co. lowered shares of AbbVie from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $73.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. Finally, Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $67.63 price target on the stock in a research report on Thursday, August 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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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