Johnston Asset Management LLC Maintains Position in AbbVie Inc. (ABBV)
Johnston Asset Management LLC held its position 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 firm owned 51,024 shares of the company’s stock at the end of the second quarter. Johnston Asset Management LLC’s holdings in AbbVie were worth $3,700,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in ABBV. Acropolis Investment Management LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at approximately $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of AbbVie during the 1st quarter valued at approximately $108,000. Atwood & Palmer Inc. raised its position 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 valued at $140,000 after buying an additional 2,000 shares during the period. Tradewinds Capital Management LLC raised its position 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 valued at $148,000 after buying an additional 1,057 shares during the period. Finally, Exane Asset Management purchased a new stake in shares of AbbVie during the 2nd quarter valued at approximately $181,000. 68.26% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Inc. (NYSE ABBV) opened at 90.67 on Friday. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $92.61. The firm has a market cap of $144.54 billion, a P/E ratio of 22.30 and a beta of 1.51. The firm has a 50 day moving average of $85.12 and a 200 day moving average of $72.86.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $6.93 billion. During the same quarter in the prior year, the business earned $1.26 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that AbbVie Inc. will post $5.53 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is currently 62.90%.
WARNING: “Johnston Asset Management LLC Maintains Position in AbbVie Inc. (ABBV)” was first posted by Daily Political and is owned by of Daily Political. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.dailypolitical.com/2017/10/14/johnston-asset-management-llc-maintains-position-in-abbvie-inc-abbv.html.
Several research firms have recently commented on ABBV. Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 price target (up previously from $65.00) on shares of AbbVie in a research report on Monday, July 17th. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target on the stock in a research report on Wednesday, July 26th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 price target (up previously from $92.00) on shares of AbbVie in a research report on Monday, July 17th. Finally, Zacks Investment Research raised shares of AbbVie from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $91.78.
In other news, SVP Azita Saleki-Gerhardt sold 8,300 shares of the stock in a transaction on Monday, September 11th. The shares were 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 of the company’s stock, valued at $7,915,276.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the completion of the sale, the chairman now directly owns 469,623 shares of the company’s stock, valued at approximately $33,343,233. The disclosure for this sale can be found here. Insiders sold 379,890 shares of company stock valued at $27,187,817 in the last three months. 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.