AbbVie Inc. (ABBV) Position Held by Searle & CO.
Searle & CO. continued to hold its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, Holdings Channel reports. The firm owned 15,843 shares of the company’s stock at the end of the second quarter. Searle & CO.’s holdings in AbbVie were worth $1,149,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. First Command Financial Services Inc. raised its position in shares of AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares in the last quarter. Acropolis Investment Management LLC purchased a new position in AbbVie during the second quarter worth approximately $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in AbbVie during the first quarter worth approximately $108,000. Patriot Financial Group Insurance Agency LLC purchased a new position in AbbVie during the fourth quarter worth approximately $137,000. Finally, Atwood & Palmer Inc. raised its position in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 67.89% of the company’s stock.
AbbVie Inc. (ABBV) traded up 0.581% during midday trading on Wednesday, reaching $71.885. 1,829,220 shares of the company traded hands. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $75.04. The stock has a market capitalization of $114.41 billion, a P/E ratio of 17.680 and a beta of 1.50. The firm has a 50-day moving average of $72.12 and a 200-day moving average of $66.41. AbbVie also saw some unusual options trading on Monday. Traders purchased 278 put options on the stock. This is an increase of approximately 121% compared to the average volume of 126 put options.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The company had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a return on equity of 154.76% and a net margin of 24.77%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. On average, analysts predict that AbbVie Inc. will post $5.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a $0.64 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $2.56 annualized dividend and a dividend yield of 3.58%. AbbVie’s dividend payout ratio is currently 62.90%.
COPYRIGHT VIOLATION NOTICE: “AbbVie Inc. (ABBV) Position Held by Searle & CO.” was first reported by Daily Political and is the property of of Daily Political. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.dailypolitical.com/2017/08/09/abbvie-inc-abbv-position-held-by-searle-co.html.
Several research analysts have commented on the stock. Vetr raised shares of AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price target on the stock in a research note on Monday, May 8th. BMO Capital Markets set a $63.00 price target on shares of AbbVie and gave the company a “hold” rating in a report on Thursday, April 27th. Credit Suisse Group reiterated a “hold” rating and issued a $65.00 price target on shares of AbbVie in a report on Wednesday, June 7th. Zacks Investment Research cut shares of AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Deutsche Bank AG boosted their target price on shares of AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a report on Friday, April 28th. Nine analysts have rated the stock with a hold rating, seven 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 $74.66.
In other news, Chairman Richard A. Gonzalez sold 193,131 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.00, for a total value of $13,712,301.00. Following the transaction, the chairman now directly owns 469,623 shares of the company’s stock, valued at $33,343,233. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carlos Alban sold 45,800 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $3,206,000.00. Following the completion of the transaction, the executive vice president now directly owns 160,545 shares in the company, valued at $11,238,150. The disclosure for this sale can be found here. Insiders sold 600,026 shares of company stock worth $41,852,724 in the last ninety days. 0.23% of the stock is owned by corporate insiders.
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.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).
Receive News & Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with MarketBeat.com's FREE daily email newsletter.