AbbVie Inc. (ABBV) Shares Bought by Alerus Financial NA
Alerus Financial NA raised its stake in shares of AbbVie Inc. (NYSE:ABBV) by 17.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,417 shares of the company’s stock after buying an additional 6,181 shares during the quarter. Alerus Financial NA’s holdings in AbbVie were worth $3,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in ABBV. Savant Capital LLC grew its holdings in shares of AbbVie by 1.3% in the second quarter. Savant Capital LLC now owns 61,132 shares of the company’s stock valued at $4,433,000 after purchasing an additional 793 shares in the last quarter. Princeton Capital Management Inc. purchased a new position in shares of AbbVie in the second quarter valued at $1,394,000. Accident Compensation Corp grew its holdings in shares of AbbVie by 24.7% in the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock valued at $4,314,000 after purchasing an additional 13,100 shares in the last quarter. Investec Asset Management LTD grew its holdings in shares of AbbVie by 3.6% in the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock valued at $10,880,000 after purchasing an additional 5,801 shares in the last quarter. Finally, Palisade Asset Management LLC grew its holdings in shares of AbbVie by 17.9% in the second quarter. Palisade Asset Management LLC now owns 68,311 shares of the company’s stock valued at $4,953,000 after purchasing an additional 10,381 shares in the last quarter. 69.32% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Richard A. Gonzalez sold 218,193 shares of AbbVie stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total transaction of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 277,125 shares of company stock valued at $25,891,756. Corporate insiders own 0.23% of the company’s stock.
A number of research analysts recently weighed in on ABBV shares. Jefferies Group raised their target price on shares of AbbVie from $107.00 to $115.00 and gave the company a “buy” rating in a report on Monday, October 16th. BMO Capital Markets set a $66.00 target price on shares of AbbVie and gave the company a “hold” rating in a report on Friday, October 27th. BidaskClub raised shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Piper Jaffray Companies raised their target price on shares of AbbVie to $115.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Finally, Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. AbbVie has a consensus rating of “Buy” and a consensus price target of $96.72.
Shares of AbbVie Inc. (ABBV) opened at $96.32 on Friday. The stock has a market capitalization of $154,725.98, a price-to-earnings ratio of 18.25, a P/E/G ratio of 1.37 and a beta of 1.52. AbbVie Inc. has a 52-week low of $58.80 and a 52-week high of $98.52. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. The company had revenue of $7 billion during 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%. AbbVie’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. analysts anticipate that AbbVie Inc. will post 5.55 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.95%. This is an increase from AbbVie’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is 62.29%.
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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