Park National Corp OH Increases Position in AbbVie Inc. (ABBV)
Park National Corp OH increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 2.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,331 shares of the company’s stock after buying an additional 6,916 shares during the period. AbbVie comprises about 1.3% of Park National Corp OH’s portfolio, making the stock its 29th largest position. Park National Corp OH’s holdings in AbbVie were worth $21,197,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Grassi Investment Management increased its position in shares of AbbVie by 0.8% in the second quarter. Grassi Investment Management now owns 135,327 shares of the company’s stock valued at $9,813,000 after buying an additional 1,026 shares in the last quarter. Staton Financial Advisors LLC increased its position in shares of AbbVie by 8.8% in the first quarter. Staton Financial Advisors LLC now owns 57,401 shares of the company’s stock valued at $3,740,000 after buying an additional 4,654 shares in the last quarter. TrueNorth Inc. increased its position in shares of AbbVie by 15.2% in the first quarter. TrueNorth Inc. now owns 17,984 shares of the company’s stock valued at $1,172,000 after buying an additional 2,367 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of AbbVie by 3.0% in the first quarter. Perigon Wealth Management LLC now owns 12,308 shares of the company’s stock valued at $802,000 after buying an additional 355 shares in the last quarter. Finally, Aviance Capital Management LLC acquired a new position in shares of AbbVie during the first quarter valued at about $13,445,000. Institutional investors own 67.69% of the company’s stock.
AbbVie Inc. (NYSE ABBV) traded up 0.94% on Monday, hitting $70.62. The company’s stock had a trading volume of 1,168,436 shares. The company has a market capitalization of $112.57 billion, a P/E ratio of 17.37 and a beta of 1.50. The company has a 50 day moving average price of $71.72 and a 200-day moving average price of $67.10. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $75.04.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping 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 firm had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the business posted $1.26 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts forecast 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. Stockholders of record on Friday, July 14th were paid a $0.64 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.63%. AbbVie’s dividend payout ratio is presently 62.90%.
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Several brokerages have recently issued reports on ABBV. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price objective for the company. in a research report on Thursday, July 20th. Leerink Swann reiterated a “market perform” rating on shares of AbbVie in a research report on Thursday, June 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $94.00 price objective (up from $92.00) on shares of AbbVie in a research report on Monday, July 17th. Deutsche Bank AG reiterated a “hold” rating and set a $66.00 price objective (up from $65.00) on shares of AbbVie in a research report on Monday, July 17th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $74.00 price objective (up from $65.00) on shares of AbbVie in a research report on Thursday, July 20th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AbbVie presently has a consensus rating of “Buy” and a consensus target price of $76.02.
In other news, Chairman Richard A. Gonzalez sold 193,131 shares of AbbVie stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $71.00, for a total value of $13,712,301.00. Following the completion of the sale, the chairman now directly owns 469,623 shares in the company, valued at $33,343,233. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Carlos Alban sold 45,800 shares of AbbVie stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total transaction of $3,206,000.00. Following the completion of the sale, the executive vice president now owns 160,545 shares of the company’s stock, valued at $11,238,150. The disclosure for this sale can be found here. Insiders sold 490,491 shares of company stock valued at $34,684,639 over the last quarter. Company 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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