Vontobel Swiss Wealth Advisors AG Purchases New Stake in AbbVie Inc. (ABBV)
Vontobel Swiss Wealth Advisors AG purchased a new position in AbbVie Inc. (NYSE:ABBV) during the first quarter, Holdings Channel reports. The fund purchased 3,650 shares of the company’s stock, valued at approximately $238,000.
Several other institutional investors have also bought and sold shares of ABBV. Toth Financial Advisory Corp boosted its position in shares of AbbVie by 2.6% in the first quarter. Toth Financial Advisory Corp now owns 61,012 shares of the company’s stock worth $3,976,000 after buying an additional 1,536 shares in the last quarter. Orbis Allan Gray Ltd raised its stake in AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock worth $343,496,000 after buying an additional 579,378 shares during the last quarter. Iowa State Bank raised its stake in AbbVie by 3.6% in the first quarter. Iowa State Bank now owns 71,888 shares of the company’s stock worth $4,684,000 after buying an additional 2,496 shares during the last quarter. Dynamic Advisors Solutions LLC raised its stake in AbbVie by 680.0% in the first quarter. Dynamic Advisors Solutions LLC now owns 69,407 shares of the company’s stock worth $4,523,000 after buying an additional 60,509 shares during the last quarter. Finally, Alerus Financial NA raised its stake in AbbVie by 0.8% in the first quarter. Alerus Financial NA now owns 35,236 shares of the company’s stock worth $2,296,000 after buying an additional 273 shares during the last quarter. Hedge funds and other institutional investors own 67.89% of the company’s stock.
AbbVie Inc. (NYSE ABBV) traded down 0.1722% during trading on Wednesday, hitting $71.3469. The stock had a trading volume of 246,989 shares. The stock has a 50 day moving average price of $72.12 and a 200-day moving average price of $66.41. The stock has a market cap of $113.55 billion, a price-to-earnings ratio of 17.5472 and a beta of 1.50. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04. AbbVie also was the recipient of unusually large options trading on Monday. Stock investors acquired 278 put options on the stock. This represents an increase of 121% compared to the average volume of 126 put options.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 154.76% and a net margin of 24.77%. The firm had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post $5.52 EPS 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 issued a $0.64 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $2.56 annualized dividend and a dividend yield of 3.58%. AbbVie’s payout ratio is 62.90%.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by Daily Political and is owned by of Daily Political. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/08/09/vontobel-swiss-wealth-advisors-ag-purchases-new-stake-in-abbvie-inc-abbv.html.
A number of equities research analysts recently commented on the company. BidaskClub lowered AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 price target on shares of AbbVie in a research report on Thursday, August 3rd. Cowen and Company set a $70.00 price target on AbbVie and gave the company a “hold” rating in a research report on Sunday, July 30th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target for the company in a research report on Wednesday, July 26th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $74.00 price target (up from $65.00) on shares of AbbVie in a research report on Thursday, July 20th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. AbbVie currently has a consensus rating of “Buy” and an average target price of $74.66.
In other news, Director Edward J. Rapp acquired 4,000 shares of AbbVie stock in a transaction on Monday, July 31st. The shares were bought at an average cost of $70.45 per share, for a total transaction of $281,800.00. Following the acquisition, the director now directly owns 15,498 shares of the company’s stock, valued at approximately $1,091,834.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Carlos Alban sold 45,800 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $3,206,000.00. Following the transaction, the executive vice president now owns 160,545 shares in the company, valued at $11,238,150. The disclosure for this sale can be found here. Over the last quarter, insiders sold 600,026 shares of company stock worth $41,852,724. Company 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.
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.