AbbVie Inc. (ABBV) Shares Bought by HL Financial Services LLC
HL Financial Services LLC raised its position in AbbVie Inc. (NYSE:ABBV) by 5.5% during the second quarter, Holdings Channel reports. The fund owned 420,788 shares of the company’s stock after buying an additional 22,108 shares during the period. HL Financial Services LLC’s holdings in AbbVie were worth $26,051,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. NewSquare Capital LLC increased its position in AbbVie by 14.7% in the second quarter. NewSquare Capital LLC now owns 12,446 shares of the company’s stock valued at $771,000 after buying an additional 1,596 shares in the last quarter. Atalanta Sosnoff Capital LLC purchased a new position in AbbVie during the second quarter valued at $20,759,000. Investment House LLC increased its position in AbbVie by 1.0% in the second quarter. Investment House LLC now owns 102,661 shares of the company’s stock valued at $6,356,000 after buying an additional 1,048 shares in the last quarter. Pitcairn Co. increased its position in AbbVie by 2.6% in the second quarter. Pitcairn Co. now owns 20,724 shares of the company’s stock valued at $1,283,000 after buying an additional 529 shares in the last quarter. Finally, Court Place Advisors LLC increased its position in AbbVie by 30.3% in the second quarter. Court Place Advisors LLC now owns 16,701 shares of the company’s stock valued at $1,034,000 after buying an additional 3,883 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.
AbbVie Inc. (NYSE:ABBV) traded down 1.60% on Friday, hitting $60.17. The stock had a trading volume of 5,606,474 shares. AbbVie Inc. has a 12-month low of $45.45 and a 12-month high of $68.12. The company’s 50 day moving average price is $63.50 and its 200-day moving average price is $62.68. The company has a market cap of $97.99 billion, a price-to-earnings ratio of 17.36 and a beta of 1.50.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, July 29th. The company reported $1.26 earnings per share (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 quarter last year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current year.
The business also recently announced 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 is Wednesday, October 12th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.79%. AbbVie’s dividend payout ratio (DPR) is currently 65.71%.
Several equities analysts have weighed in on ABBV shares. Zacks Investment Research raised AbbVie from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Wednesday, September 28th. Jefferies Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of AbbVie in a research report on Wednesday, October 5th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $78.00 target price on shares of AbbVie in a research report on Tuesday, September 27th. JPMorgan Chase & Co. downgraded AbbVie from an “overweight” rating to a “neutral” rating and dropped their target price 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 AbbVie from a “hold” rating to a “buy” rating and set a $67.63 price objective for the company in a research note on Thursday, August 25th. One 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’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction dated 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 sale, the insider now owns 144,138 shares in the company, valued at $9,368,970. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is owned by insiders.
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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