Shamrock Asset Management LLC Acquires Shares of 2,807 AbbVie Inc. (ABBV)
Shamrock Asset Management LLC acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,807 shares of the company’s stock, valued at approximately $183,000.
Several other large investors also recently bought and sold shares of ABBV. Toth Financial Advisory Corp raised its stake in shares of AbbVie by 2.6% in the first quarter. Toth Financial Advisory Corp now owns 61,012 shares of the company’s stock worth $3,976,000 after buying an additional 1,536 shares in the last quarter. Iowa State Bank raised its stake in shares of AbbVie by 3.6% in the first quarter. Iowa State Bank now owns 71,888 shares of the company’s stock worth $4,684,000 after buying an additional 2,496 shares in the last quarter. Dynamic Advisors Solutions LLC raised its stake in shares of AbbVie by 680.0% in the first quarter. Dynamic Advisors Solutions LLC now owns 69,407 shares of the company’s stock worth $4,523,000 after buying an additional 60,509 shares in the last quarter. Hamlin Capital Management LLC raised its stake in shares of AbbVie by 14.6% in the first quarter. Hamlin Capital Management LLC now owns 1,244,866 shares of the company’s stock worth $81,115,000 after buying an additional 158,763 shares in the last quarter. Finally, Alerus Financial NA raised its stake in shares of AbbVie by 0.8% in the first quarter. Alerus Financial NA now owns 35,236 shares of the company’s stock worth $2,296,000 after buying an additional 273 shares in the last quarter. 67.69% of the stock is owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.13% on Thursday, reaching $70.33. The company had a trading volume of 1,179,023 shares. The firm has a market capitalization of $112.11 billion, a PE ratio of 17.30 and a beta of 1.50. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04. The firm’s 50 day moving average is $71.88 and its 200 day moving average is $67.01.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same quarter last year, the company posted $1.26 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were issued 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 was Wednesday, July 12th. AbbVie’s dividend payout ratio is currently 62.90%.
ABBV has been the subject of a number of research analyst reports. Vetr lowered AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 target price for the company. in a research report on Monday, May 15th. Jefferies Group LLC reaffirmed a “buy” rating on shares of AbbVie in a research report on Friday, May 26th. Societe Generale raised AbbVie from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $85.00 target price on shares of AbbVie in a research report on Thursday, August 3rd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $76.02.
In related news, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the transaction, 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 SEC, which is accessible through this link. Also, Chairman Richard A. Gonzalez sold 71,235 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $65.49, for a total value of $4,665,180.15. Following the transaction, the chairman now directly owns 349,462 shares in the company, valued at approximately $22,886,266.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 561,726 shares of company stock worth $39,349,819. Corporate insiders own 0.23% of the company’s stock.
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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