Vestor Capital LLC Holds Position in AbbVie Inc. (ABBV)
Vestor Capital LLC continued to hold its stake in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, Holdings Channel reports. The firm owned 8,420 shares of the company’s stock at the end of the second quarter. Vestor Capital LLC’s holdings in AbbVie were worth $521,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in AbbVie by 0.7% in the first quarter. Geode Capital Management LLC now owns 13,051,181 shares of the company’s stock worth $743,963,000 after buying an additional 93,719 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of AbbVie by 52.4% in the second quarter. Ameriprise Financial Inc. now owns 10,364,784 shares of the company’s stock valued at $641,739,000 after buying an additional 3,562,980 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of AbbVie by 2.1% in the first quarter. Franklin Resources Inc. now owns 5,623,069 shares of the company’s stock valued at $321,188,000 after buying an additional 115,458 shares in the last quarter. Orbis Allan Gray Ltd acquired a new position in shares of AbbVie during the first quarter valued at approximately $281,766,000. Finally, Swiss National Bank boosted its position in shares of AbbVie by 6.3% in the second quarter. Swiss National Bank now owns 4,516,229 shares of the company’s stock valued at $279,600,000 after buying an additional 269,100 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) opened at 60.17 on Friday. The firm has a market capitalization of $97.99 billion, a price-to-earnings ratio of 17.36 and a beta of 1.50. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12. The firm has a 50-day moving average of $63.50 and a 200-day moving average of $62.68.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter last year, the firm posted $1.08 EPS. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts expect that AbbVie Inc. will post $4.81 earnings per share for the current year.
The firm 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Wednesday, October 12th. AbbVie’s dividend payout ratio is presently 65.71%.
ABBV has been the subject of several recent research reports. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $78.00 price target on shares of AbbVie in a research report on Tuesday, September 27th. Vetr cut shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.75 price target for the company. in a research report on Wednesday, June 29th. BMO Capital Markets reissued a “market perform” rating and issued a $66.00 price target on shares of AbbVie in a research report on Friday, July 29th. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Finally, Jefferies Group reissued a “buy” rating and issued a $90.00 price target on shares of AbbVie in a research report on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. AbbVie currently has an average 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 on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. 0.11% of the stock is currently 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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