AbbVie Inc. (ABBV) Stake Raised by North Star Asset Management Inc.
North Star Asset Management Inc. lifted its position in shares of AbbVie Inc. (NYSE:ABBV) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,030 shares of the company’s stock after acquiring an additional 560 shares during the quarter. North Star Asset Management Inc.’s holdings in AbbVie were worth $1,110,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of ABBV. First Command Financial Services Inc. boosted its stake in shares of AbbVie by 6.8% during the 1st quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after acquiring an additional 99 shares in the last quarter. Atwood & Palmer Inc. boosted its stake in shares of AbbVie by 1,333.3% during the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after acquiring an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC boosted its stake in shares of AbbVie by 87.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after acquiring an additional 1,057 shares in the last quarter. American National Bank boosted its stake in shares of AbbVie by 13.8% during the 1st quarter. American National Bank now owns 2,471 shares of the company’s stock worth $161,000 after acquiring an additional 299 shares in the last quarter. Finally, Signature Estate & Investment Advisors LLC purchased a new stake in shares of AbbVie during the 1st quarter worth about $183,000. 68.29% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on ABBV shares. Jefferies Group LLC reissued a “buy” rating on shares of AbbVie in a research note on Friday, May 26th. Societe Generale raised shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $74.86 target price on the stock in a research note on Thursday, July 6th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $85.00 price target on shares of AbbVie in a research note on Thursday, August 3rd. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $79.25.
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In other AbbVie news, Director Edward J. Rapp purchased 4,000 shares of AbbVie stock in a transaction on Monday, July 31st. The shares were bought at an average price of $70.45 per share, with a total value of $281,800.00. Following the completion of the acquisition, the director now directly owns 15,498 shares of the company’s stock, valued at $1,091,834.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares in the company, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. Insiders sold 373,191 shares of company stock worth $26,598,305 in the last ninety days. Insiders own 0.23% of the company’s stock.
AbbVie Inc. (NYSE ABBV) traded up 0.28% on Wednesday, reaching $88.00. 3,933,333 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $73.09 and a 200-day moving average of $68.79. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $88.84. The company has a market cap of $140.28 billion, a P/E ratio of 21.64 and a beta of 1.48.
AbbVie (NYSE:ABBV) last issued its 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 net margin of 24.77% and a return on equity of 150.27%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts expect that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is presently 62.90%.
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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