AbbVie Inc. (ABBV) Shares Bought by Bollard Group LLC
Bollard Group LLC increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,764 shares of the company’s stock after buying an additional 19 shares during the period. Bollard Group LLC’s holdings in AbbVie were worth $273,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of AbbVie by 2.4% in the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after buying an additional 1,696,042 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of AbbVie during the first quarter valued at $46,744,000. Orbis Allan Gray Ltd increased its stake in shares of AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock valued at $343,496,000 after buying an additional 579,378 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of AbbVie by 297.9% in the first quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock valued at $39,507,000 after buying an additional 453,955 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of AbbVie by 42.3% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,202,483 shares of the company’s stock valued at $78,354,000 after buying an additional 357,353 shares during the last quarter. 67.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.37% on Wednesday, hitting $70.60. 2,271,808 shares of the stock traded hands. The firm’s 50-day moving average is $71.93 and its 200 day moving average is $66.99. The firm has a market cap of $112.54 billion, a P/E ratio of 17.36 and a beta of 1.50. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $75.04.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the firm posted $1.26 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Wednesday, July 12th. AbbVie’s payout ratio is currently 62.90%.
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Several equities research analysts recently weighed in on ABBV shares. BMO Capital Markets reaffirmed a “hold” rating and set a $63.00 target price on shares of AbbVie in a research note on Tuesday, April 18th. Leerink Swann set a $71.00 target price on shares of AbbVie and gave the stock a “hold” rating in a research note on Thursday, April 20th. Deutsche Bank AG upped their target price on shares of AbbVie from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $74.98 target price on the stock. in a research note on Thursday, May 4th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of AbbVie in a research note on Friday, May 26th. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. AbbVie presently has an average rating of “Buy” and an average target price of $74.66.
In other news, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the completion of the sale, the chairman now owns 469,623 shares of the company’s stock, valued at $33,343,233. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William J. Chase sold 38,300 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the sale, the chief financial officer now directly owns 209,043 shares of the company’s stock, valued at approximately $13,660,960.05. The disclosure for this sale can be found here. Insiders have sold 600,026 shares of company stock valued at $41,852,724 in the last three months. Corporate insiders own 0.23% of the company’s stock.
AbbVie Company Profile
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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