AbbVie Inc. (ABBV) Shares Bought by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 18.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 631,940 shares of the company’s stock after buying an additional 100,674 shares during the period. Nisa Investment Advisors LLC’s holdings in AbbVie were worth $39,123,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Dividend Asset Capital LLC bought a new position in shares of AbbVie during the first quarter worth $272,000. Private Trust Co. NA boosted its position in shares of AbbVie by 4.7% in the first quarter. Private Trust Co. NA now owns 87,329 shares of the company’s stock worth $4,988,000 after buying an additional 3,938 shares in the last quarter. Sigma Planning Corp boosted its position in shares of AbbVie by 2.5% in the first quarter. Sigma Planning Corp now owns 74,923 shares of the company’s stock worth $4,280,000 after buying an additional 1,821 shares in the last quarter. First Financial Corp IN boosted its position in shares of AbbVie by 9.9% in the first quarter. First Financial Corp IN now owns 20,169 shares of the company’s stock worth $1,152,000 after buying an additional 1,814 shares in the last quarter. Finally, Woodford Investment Management LLP boosted its position in shares of AbbVie by 25.8% in the first quarter. Woodford Investment Management LLP now owns 11,063,300 shares of the company’s stock worth $631,936,000 after buying an additional 2,269,300 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.40% on Friday, reaching $63.07. The company’s stock had a trading volume of 7,325,429 shares. The company’s 50 day moving average is $64.69 and its 200-day moving average is $62.29. The firm has a market cap of $102.71 billion, a price-to-earnings ratio of 18.19 and a beta of 1.49. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.06. The business earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. AbbVie’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the company earned $1.08 earnings per share. Equities research analysts expect that AbbVie Inc. will post $4.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.62%. AbbVie’s payout ratio is presently 65.71%.
A number of equities research analysts have commented on ABBV shares. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Wednesday. Goldman Sachs Group Inc. restated a “buy” rating and set a $78.00 price objective on shares of AbbVie in a research report on Tuesday, September 27th. JPMorgan Chase & Co. lowered AbbVie from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $75.00 to $73.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $67.63 price objective for the company in a research report on Thursday, August 25th. Finally, Raymond James Financial Inc. started coverage on AbbVie in a research report on Thursday, September 1st. They set an “outperform” rating and a $82.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the completion of the transaction, the insider now directly owns 144,138 shares in the company, valued at $9,368,970. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.
AbbVie Company Profile
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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