Sfmg LLC Invests $285,000 in AbbVie Inc. (ABBV)
Sfmg LLC acquired a new stake in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,378 shares of the company’s stock, valued at approximately $285,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of ABBV. Bollard Group LLC raised its stake in AbbVie by 0.5% in the first quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock worth $244,000 after buying an additional 20 shares during the last quarter. TRUE Private Wealth Advisors raised its stake in AbbVie by 0.5% in the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock worth $313,000 after buying an additional 24 shares during the last quarter. Country Club Trust Company n.a. raised its stake in AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock worth $289,000 after buying an additional 26 shares during the last quarter. Stratford Consulting LLC raised its stake in AbbVie by 0.7% in the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock worth $258,000 after buying an additional 29 shares during the last quarter. Finally, K.J. Harrison & Partners Inc raised its stake in AbbVie by 0.6% in the first quarter. K.J. Harrison & Partners Inc now owns 5,031 shares of the company’s stock worth $328,000 after buying an additional 31 shares during the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (ABBV) opened at 74.63 on Friday. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04. The stock has a market capitalization of $118.78 billion, a P/E ratio of 19.34 and a beta of 1.51. The firm’s 50-day moving average price is $71.21 and its 200 day moving average price is $65.76.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Thursday, April 27th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.02. The business had revenue of $6.54 billion for the quarter, compared to the consensus estimate of $6.49 billion. AbbVie had a return on equity of 148.83% and a net margin of 24.07%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 earnings per share. Analysts expect that AbbVie Inc. will post $5.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Wednesday, July 12th. AbbVie’s payout ratio is presently 66.32%.
A number of analysts recently issued reports on ABBV shares. Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price objective on the stock in a research note on Monday, May 8th. BMO Capital Markets set a $63.00 price objective on AbbVie and gave the company a “hold” rating in a research note on Thursday, April 27th. Credit Suisse Group reiterated a “hold” rating and set a $65.00 price objective on shares of AbbVie in a research note on Wednesday, June 7th. Deutsche Bank AG boosted their price objective on AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of AbbVie in a research note on Friday, May 26th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $74.52.
In other news, CFO William J. Chase sold 38,300 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the transaction, the chief financial officer now directly owns 209,043 shares of the company’s stock, valued at $13,660,960.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Carlos Alban sold 43,000 shares of the company’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $67.00, for a total value of $2,881,000.00. Following the transaction, the executive vice president now directly owns 114,745 shares in the company, valued at $7,687,915. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 278,135 shares of company stock worth $18,841,085. Insiders own 0.23% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. 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 virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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