Excalibur Management Corp Has $417,000 Position in AbbVie Inc. (ABBV)
Excalibur Management Corp cut its position in AbbVie Inc. (NYSE:ABBV) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 6,730 shares of the company’s stock after selling 75 shares during the period. Excalibur Management Corp’s holdings in AbbVie were worth $417,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. CapWealth Advisors LLC raised 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 during the period. Acropolis Investment Management LLC acquired a new stake in AbbVie during the second quarter worth $106,000. Hartford Financial Management Inc. raised its stake 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 period. Americafirst Capital Management LLC acquired a new stake in AbbVie during the second quarter worth $122,000. Finally, D. Scott Neal Inc. raised its stake in AbbVie by 107.4% in the second quarter. D. Scott Neal Inc. now owns 1,999 shares of the company’s stock worth $124,000 after buying an additional 1,035 shares during the period. 68.36% of the stock is owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) traded up 0.60% during trading on Monday, hitting $63.31. 3,135,309 shares of the stock traded hands. 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 $103.10 billion, a P/E ratio of 18.26 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 announced 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 company earned $6.43 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same period last year, the business posted $1.08 EPS. AbbVie’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current fiscal 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 issued a dividend of $0.57 per share. 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 dividend payout ratio (DPR) is 65.71%.
A number of analysts recently weighed in on the stock. Jefferies Group reaffirmed a “buy” rating on shares of AbbVie in a research note on Thursday, August 25th. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price objective for the company. in a research note on Tuesday, July 26th. JPMorgan Chase & Co. lowered shares of AbbVie from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $75.00 to $73.00 in a research note on Thursday, September 8th. They noted that the move was a valuation call. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of AbbVie in a research note on Wednesday, June 29th. Finally, Raymond James Financial Inc. assumed coverage on shares of AbbVie in a research note on Thursday, September 1st. They issued an “outperform” rating and a $82.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the firm’s 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 directly owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a document filed 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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