AbbVie Inc. (ABBV) Shares Bought by Sippican Capital Advisors
Sippican Capital Advisors raised its stake in AbbVie Inc. (NYSE:ABBV) by 38.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 10,443 shares of the company’s stock after buying an additional 2,900 shares during the period. Sippican Capital Advisors’ holdings in AbbVie were worth $647,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Orbis Allan Gray Ltd purchased a new stake in shares of AbbVie during the first quarter worth $281,766,000. Bank of Montreal Can bought a new position in AbbVie during the second quarter worth about $93,942,000. AXA raised its position in AbbVie by 74.3% in the first quarter. AXA now owns 3,061,184 shares of the company’s stock worth $174,855,000 after buying an additional 1,304,557 shares during the period. Renaissance Technologies LLC raised its position in AbbVie by 168.2% in the first quarter. Renaissance Technologies LLC now owns 1,563,056 shares of the company’s stock worth $89,282,000 after buying an additional 980,300 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new position in AbbVie during the first quarter worth about $50,875,000. 68.35% of the stock is owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) traded up 2.34% during trading on Tuesday, reaching $61.55. The company’s stock had a trading volume of 6,655,071 shares. The stock has a market capitalization of $100.24 billion, a price-to-earnings ratio of 17.75 and a beta of 1.50. The firm has a 50 day moving average of $63.29 and a 200 day moving average of $62.81. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.06. The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The business’s revenue was up 17.8% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. 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. Investors of record on Friday, October 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio (DPR) is 65.71%.
ABBV has been the subject of a number of recent research reports. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $67.14 target price for the company in a report on Monday, July 18th. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Jefferies Group reiterated a “buy” rating on shares of AbbVie in a report on Thursday, August 25th. Argus reiterated a “buy” rating and issued a $85.00 target price on shares of AbbVie in a report on Monday, August 8th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $78.00 target price on shares of AbbVie in a report on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $70.64.
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 stock was sold at an average price of $65.00, for a total value of $3,250,000.00. Following the sale, the insider now owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is owned by corporate 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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