Stone Run Capital LLC Has $280,000 Position in AbbVie Inc. (NYSE:ABBV)
Stone Run Capital LLC maintained its stake in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, Holdings Channel reports. The institutional investor owned 4,300 shares of the company’s stock at the end of the first quarter. Stone Run Capital LLC’s holdings in AbbVie were worth $280,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in ABBV. Norges Bank purchased a new position in AbbVie during the fourth quarter valued at about $823,984,000. Wedge Capital Management L L P NC purchased a new position in AbbVie during the first quarter valued at about $46,744,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in AbbVie during the fourth quarter valued at about $41,452,000. Orbis Allan Gray Ltd boosted its position in AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock valued at $343,496,000 after buying an additional 579,378 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in AbbVie by 4.1% in the first quarter. Legal & General Group Plc now owns 7,918,192 shares of the company’s stock valued at $515,956,000 after buying an additional 312,055 shares in the last quarter. Institutional investors own 67.89% of the company’s stock.
AbbVie Inc. (ABBV) traded down 0.9161% during trading on Thursday, reaching $71.3602. The company’s stock had a trading volume of 589,563 shares. The stock has a market cap of $113.75 billion, a price-to-earnings ratio of 17.5505 and a beta of 1.50. The firm has a 50 day moving average price of $72.15 and a 200-day moving average price of $66.67. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $75.04. AbbVie also was the target of unusually large options trading on Monday. Traders acquired 278 put options on the company. This is an increase of 121% compared to the typical daily 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 for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The business 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 earned $1.26 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Friday, July 14th will be paid a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, July 12th. AbbVie’s dividend payout ratio (DPR) is currently 62.90%.
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Several research firms recently issued reports on ABBV. Vetr cut AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price target on the stock. in a report on Thursday, July 20th. Leerink Swann reiterated a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 price target (up previously from $92.00) on shares of AbbVie in a report on Monday, July 17th. Deutsche Bank AG reiterated a “hold” rating and issued a $66.00 price target (up previously from $65.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $74.00 price target (up previously from $65.00) on shares of AbbVie in a report on Thursday, July 20th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $74.66.
In related news, insider Laura J. Schumacher sold 79,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the transaction, the insider now directly owns 187,625 shares of the company’s stock, valued at approximately $13,133,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was 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 in the company, valued at $33,343,233. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 600,026 shares of company stock worth $41,852,724. 0.23% of the stock is owned by company 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.
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