Alerus Financial NA Has $2.30 Million Position in AbbVie Inc. (NYSE:ABBV)
Alerus Financial NA raised its stake in AbbVie Inc. (NYSE:ABBV) by 0.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,236 shares of the company’s stock after buying an additional 273 shares during the period. Alerus Financial NA’s holdings in AbbVie were worth $2,296,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in ABBV. Lourd Capital LLC boosted its stake in shares of AbbVie by 2.5% in the first quarter. Lourd Capital LLC now owns 6,349 shares of the company’s stock worth $414,000 after buying an additional 154 shares during the period. First Bank & Trust boosted its stake in shares of AbbVie by 11.3% in the first quarter. First Bank & Trust now owns 36,908 shares of the company’s stock worth $2,405,000 after buying an additional 3,738 shares during the period. Dowling & Yahnke LLC boosted its stake in shares of AbbVie by 0.6% in the first quarter. Dowling & Yahnke LLC now owns 76,586 shares of the company’s stock worth $4,990,000 after buying an additional 433 shares during the period. Access Financial Services Inc. boosted its position in shares of AbbVie by 7.7% in the first quarter. Access Financial Services Inc. now owns 22,845 shares of the company’s stock valued at $1,489,000 after buying an additional 1,625 shares during the last quarter. Finally, Pegasus Partners Ltd. boosted its position in shares of AbbVie by 158.1% in the first quarter. Pegasus Partners Ltd. now owns 10,284 shares of the company’s stock valued at $670,000 after buying an additional 6,300 shares during the last quarter. 68.00% of the stock is owned by institutional investors and hedge funds.
AbbVie Inc. (ABBV) remained flat at $70.99 on Friday. 4,731,597 shares of the company were exchanged. The firm’s 50 day moving average is $72.07 and its 200-day moving average is $66.31. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $75.04. The company has a market cap of $112.98 billion, a P/E ratio of 17.46 and a beta of 1.50.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.02. The company 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 154.76%. AbbVie’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.26 EPS. On average, equities research analysts expect that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th will be issued a $0.64 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a yield of 3.61%. AbbVie’s payout ratio is 62.90%.
A number of analysts recently commented on ABBV shares. Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price target on the stock in a report on Monday, May 8th. Credit Suisse Group reiterated a “neutral” rating and set a $74.00 price target (up from $65.00) on shares of AbbVie in a report on Thursday, July 20th. BMO Capital Markets set a $63.00 price target on AbbVie and gave the stock a “hold” rating in a report on Thursday, April 27th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Finally, Leerink Swann restated a “market perform” rating on shares of AbbVie in a research note on Thursday, June 22nd. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $75.35.
In other news, Director Edward J. Rapp purchased 4,000 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was acquired at an average price of $70.45 per share, with a total value of $281,800.00. Following the purchase, the director now directly owns 15,498 shares in the company, valued at approximately $1,091,834.10. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Laura J. Schumacher sold 79,800 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the completion of the sale, the insider now directly owns 187,625 shares of the company’s stock, valued at approximately $13,133,750. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,135 shares of company stock valued at $17,221,705. 0.23% of the stock is owned by insiders.
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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