AbbVie Inc. (ABBV) Stake Boosted by Ronald Blue & Co. LLC
Ronald Blue & Co. LLC lifted its holdings in AbbVie Inc. (NYSE:ABBV) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,386 shares of the company’s stock after acquiring an additional 484 shares during the period. Ronald Blue & Co. LLC’s holdings in AbbVie were worth $898,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. Acropolis Investment Management LLC purchased a new stake in AbbVie during the second quarter valued at approximately $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in AbbVie during the first quarter valued at approximately $108,000. Atwood & Palmer Inc. raised its position in AbbVie by 1,333.3% during the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after purchasing an additional 2,000 shares during the period. Tradewinds Capital Management LLC raised its position in AbbVie by 87.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after purchasing an additional 1,057 shares during the period. Finally, Exane Asset Management purchased a new stake in AbbVie during the second quarter valued at approximately $181,000. 68.25% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Henry O. Gosebruch sold 18,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the completion of the transaction, the insider now owns 96,074 shares in the company, valued at $6,733,826.66. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now owns 10,007 shares of the company’s stock, valued at approximately $880,616. The disclosure for this sale can be found here. In the last quarter, insiders have sold 379,890 shares of company stock valued at $27,187,817. Insiders own 0.23% of the company’s stock.
A number of equities research analysts have issued reports on the company. Piper Jaffray Companies restated a “buy” rating and set a $85.00 price objective on shares of AbbVie in a research report on Thursday, August 3rd. Jefferies Group LLC upped their price objective on AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a research report on Monday. Evercore ISI assumed coverage on AbbVie in a research report on Wednesday, August 16th. They set an “outperform” rating and a $95.00 price objective on the stock. UBS AG downgraded AbbVie from a “buy” rating to a “neutral” rating and upped their price objective for the company from $79.00 to $92.00 in a research report on Monday, September 25th. Finally, Leerink Swann upgraded AbbVie from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $89.00 to $106.00 in a research report on Monday, October 2nd. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $92.25.
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Shares of AbbVie Inc. (NYSE:ABBV) opened at 91.04 on Tuesday. AbbVie Inc. has a one year low of $55.06 and a one year high of $92.61. The stock’s 50 day moving average price is $85.49 and its 200 day moving average price is $72.96. The stock has a market cap of $145.13 billion, a price-to-earnings ratio of 22.39 and a beta of 1.51.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The firm had revenue of $6.94 billion during the quarter, compared to the consensus estimate of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Analysts forecast that AbbVie Inc. will post $5.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a dividend of $0.64 per share. The ex-dividend date is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.81%. AbbVie’s payout ratio is currently 62.90%.
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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