Oppenheimer & Co. Inc. Acquires 3,114 Shares of AbbVie Inc (ABBV)
Oppenheimer & Co. Inc. raised its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,657 shares of the company’s stock after acquiring an additional 3,114 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in AbbVie were worth $18,869,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of ABBV. Fairfield Bush & CO. acquired a new stake in shares of AbbVie during the 1st quarter worth about $146,000. Centaurus Financial Inc. acquired a new stake in shares of AbbVie during the 1st quarter worth about $153,000. First Mercantile Trust Co. acquired a new stake in shares of AbbVie during the 2nd quarter worth about $150,000. MUFG Securities EMEA plc acquired a new stake in shares of AbbVie during the 2nd quarter worth about $157,000. Finally, KHP Capital LLC acquired a new stake in shares of AbbVie during the 1st quarter worth about $161,000. Hedge funds and other institutional investors own 69.35% of the company’s stock.
ABBV has been the topic of several analyst reports. Piper Jaffray Companies reaffirmed a “hold” rating and set a $100.00 price target on shares of AbbVie in a research note on Friday, July 27th. BMO Capital Markets reaffirmed a “sell” rating and set a $78.00 price target on shares of AbbVie in a research note on Wednesday, August 22nd. Zacks Investment Research raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Monday, October 1st. ValuEngine cut shares of AbbVie from a “buy” rating to a “hold” rating in a research note on Friday, June 22nd. Finally, Bank of America decreased their price target on shares of AbbVie from $107.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. AbbVie currently has an average rating of “Hold” and an average target price of $107.21.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 27th. The company reported $2.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.98 by $0.02. AbbVie had a net margin of 20.84% and a return on equity of 362.05%. The business had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.22 billion. During the same period last year, the company earned $1.42 earnings per share. The company’s quarterly revenue was up 19.2% on a year-over-year basis. As a group, equities research analysts anticipate that AbbVie Inc will post 7.86 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, October 15th will be given a $0.96 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.84 annualized dividend and a dividend yield of 4.23%. AbbVie’s dividend payout ratio is presently 68.57%.
In related news, EVP Michael Severino sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $97.52, for a total value of $4,876,000.00. Following the sale, the executive vice president now directly owns 111,481 shares of the company’s stock, valued at $10,871,627.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.
AbbVie Company Profile
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products worldwide. The company offers HUMIRA, a biologic therapy administered as a subcutaneous injection for autoimmune diseases; IMBRUVICA, an oral therapy for patients with chronic lymphocytic leukemia; and VIEKIRA PAK, an interferon-free therapy, with or without ribavirin, to treat adults with genotype 1 chronic hepatitis C.
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