Boys Arnold & Co. Inc. Has $2.45 Million Position in AbbVie Inc. (ABBV)
Boys Arnold & Co. Inc. lifted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,754 shares of the company’s stock after acquiring an additional 309 shares during the period. Boys Arnold & Co. Inc.’s holdings in AbbVie were worth $2,448,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. State Street Corp boosted its stake in AbbVie by 2.4% in the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock worth $4,754,696,000 after buying an additional 1,696,042 shares during the last quarter. Prudential Financial Inc. boosted its stake in AbbVie by 41.5% in the 2nd quarter. Prudential Financial Inc. now owns 5,469,241 shares of the company’s stock worth $396,575,000 after buying an additional 1,603,748 shares during the last quarter. Comerica Bank boosted its stake in AbbVie by 81.7% in the 2nd quarter. Comerica Bank now owns 1,849,149 shares of the company’s stock worth $136,671,000 after buying an additional 831,625 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in AbbVie in the 1st quarter worth about $46,744,000. Finally, Bank of Nova Scotia boosted its stake in AbbVie by 297.9% in the 1st quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock worth $39,507,000 after buying an additional 453,955 shares during the last quarter. 67.65% of the stock is currently owned by institutional investors and hedge funds.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction that occurred 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 sale, the vice president now directly owns 10,007 shares in the company, valued at approximately $880,616. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie 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 sale, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,932 shares of company stock worth $5,379,432. Company insiders own 0.23% of the company’s stock.
A number of analysts have issued reports on ABBV shares. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target on the stock in a research note on Wednesday, July 26th. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Cowen and Company set a $70.00 price target on AbbVie and gave the stock a “hold” rating in a research note on Sunday, July 30th. Piper Jaffray Companies reissued a “buy” rating and issued a $85.00 price target on shares of AbbVie in a research note on Thursday, August 3rd. Finally, Evercore ISI assumed coverage on AbbVie in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 price target on the stock. Eight 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $93.68.
Shares of AbbVie Inc. (NYSE ABBV) opened at $93.60 on Tuesday. The company has a market capitalization of $149,140.00, a PE ratio of 17.63, a P/E/G ratio of 1.30 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a twelve month low of $58.60 and a twelve month high of $98.26.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to the consensus estimate of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. research analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Friday, January 12th will be issued a dividend of $0.71 per share. This is an increase from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 61.84%.
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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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