AbbVie Inc. (ABBV) Holdings Maintained by Guinness Atkinson Asset Management Inc
Guinness Atkinson Asset Management Inc continued to hold its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,480 shares of the company’s stock at the close of the second quarter. Guinness Atkinson Asset Management Inc’s holdings in AbbVie were worth $252,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in ABBV. State Street Corp increased its holdings in shares of AbbVie by 2.4% in the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after purchasing an additional 1,696,042 shares during the period. Wedge Capital Management L L P NC acquired a new position in shares of AbbVie in the first quarter valued at about $46,744,000. Bank of Nova Scotia increased its holdings in shares of AbbVie by 297.9% in the first quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock valued at $39,507,000 after purchasing an additional 453,955 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of AbbVie by 42.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,202,483 shares of the company’s stock valued at $78,354,000 after purchasing an additional 357,353 shares during the period. Finally, AQR Capital Management LLC increased its holdings in shares of AbbVie by 58.6% in the first quarter. AQR Capital Management LLC now owns 940,824 shares of the company’s stock valued at $61,304,000 after purchasing an additional 347,710 shares during the period. 68.25% of the stock is currently owned by institutional investors and hedge funds.
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In related news, insider Henry O. Gosebruch sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $70.09, for a total value of $1,261,620.00. Following the sale, the insider now owns 96,074 shares in the company, valued at approximately $6,733,826.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the sale, the senior vice president now owns 93,099 shares in the company, valued at approximately $7,915,276.98. The disclosure for this sale can be found here. Insiders have sold a total of 373,191 shares of company stock worth $26,598,305 in the last quarter. 0.23% of the stock is currently owned by insiders.
Shares of AbbVie Inc. (NYSE ABBV) traded up 1.51% during trading on Tuesday, reaching $86.61. The company’s stock had a trading volume of 3,815,442 shares. The firm has a market capitalization of $138.06 billion, a P/E ratio of 21.30 and a beta of 1.48. The company has a 50 day moving average price of $75.29 and a 200 day moving average price of $69.70. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $89.69. AbbVie also saw unusually large options trading on Monday. Stock traders purchased 278 put options on the stock. This represents an increase of approximately 121% compared to the typical daily volume of 126 put options.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is 62.90%.
A number of brokerages have recently weighed in on ABBV. Deutsche Bank AG reissued a “hold” rating and issued a $66.00 price objective (up from $65.00) on shares of AbbVie in a report on Monday, July 17th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a report on Wednesday, July 26th. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 target price (up from $92.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $82.38.
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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