Prospera Financial Services Inc Has $1,153,000 Position in AbbVie Inc. (ABBV)
Prospera Financial Services Inc decreased its stake in AbbVie Inc. (NYSE:ABBV) by 11.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,617 shares of the company’s stock after selling 2,309 shares during the period. Prospera Financial Services Inc’s holdings in AbbVie were worth $1,153,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. CapWealth Advisors LLC boosted 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 worth $103,000 after buying an additional 639 shares in the last quarter. Acropolis Investment Management LLC purchased a new stake in shares of AbbVie during the second quarter worth $106,000. Hartford Financial Management Inc. boosted 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 worth $115,000 after buying an additional 979 shares in the last quarter. Americafirst Capital Management LLC purchased a new stake in shares of AbbVie during the second quarter worth $122,000. Finally, D. Scott Neal Inc. boosted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 68.35% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 2.34% during mid-day trading on Tuesday, hitting $61.55. The stock had a trading volume of 6,655,071 shares. The firm has a market cap of $100.24 billion, a P/E ratio of 17.75 and a beta of 1.50. AbbVie Inc. has a 12-month low of $45.45 and a 12-month high of $68.12. The company has a 50 day moving average price of $63.29 and a 200 day moving average price of $62.81.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.06. The firm 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 firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 EPS. Equities analysts forecast that AbbVie Inc. will post $4.81 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.70%. The ex-dividend date is Wednesday, October 12th. AbbVie’s payout ratio is currently 65.71%.
A number of equities research analysts have weighed in on ABBV shares. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $67.14 price objective for the company in a research note on Monday, July 18th. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Jefferies Group restated a “buy” rating on shares of AbbVie in a research note on Thursday, August 25th. Argus restated a “buy” rating and set a $85.00 price target on shares of AbbVie in a research note on Monday, August 8th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and set a $78.00 price target on shares of AbbVie in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. AbbVie has an average rating of “Buy” and a consensus price target of $70.64.
In other news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction on 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 transaction, the insider now directly owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company 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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