AbbVie Inc. (ABBV) Position Held by West Family Investments Inc.
West Family Investments Inc. maintained its stake in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,000 shares of the company’s stock at the end of the first quarter. West Family Investments Inc.’s holdings in AbbVie were worth $1,434,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. First Command Financial Services Inc. boosted its stake in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares during the period. Atwood & Palmer Inc. boosted its stake in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares during the period. American National Bank boosted its stake in AbbVie by 13.8% in the first quarter. American National Bank now owns 2,471 shares of the company’s stock worth $161,000 after buying an additional 299 shares during the period. Cable Hill Partners LLC boosted its stake in AbbVie by 7.4% in the first quarter. Cable Hill Partners LLC now owns 2,711 shares of the company’s stock worth $177,000 after buying an additional 186 shares during the period. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in AbbVie during the first quarter worth approximately $183,000. Institutional investors own 67.69% of the company’s stock.
AbbVie Inc. (ABBV) traded up 0.6378% during mid-day trading on Friday, reaching $72.5699. The company had a trading volume of 864,128 shares. 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 price is $71.63 and its 200-day moving average price is $67.41. The company has a market capitalization of $115.68 billion, a price-to-earnings ratio of 17.8480 and a beta of 1.50.
AbbVie (NYSE:ABBV) last issued its 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 net margin of 24.77% and a return on equity of 150.27%. The firm had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter last year, the company posted $1.26 earnings per share. AbbVie’s revenue was up 7.6% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were issued a $0.64 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a yield of 3.55%. AbbVie’s dividend payout ratio is currently 62.90%.
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A number of equities research analysts have commented on ABBV shares. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 price target for the company. in a research note on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating on shares of AbbVie in a research note on Friday, May 26th. Societe Generale upgraded AbbVie from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. BidaskClub cut AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $85.00 price target on shares of AbbVie in a research note on Thursday, August 3rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $76.02.
In other news, insider Laura J. Schumacher sold 79,800 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 $5,586,000.00. Following the sale, the insider now owns 187,625 shares of the company’s stock, valued at $13,133,750. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the chairman now directly owns 469,623 shares in the company, valued at approximately $33,343,233. The disclosure for this sale can be found here. Insiders sold 490,491 shares of company stock worth $34,684,639 in the last three months. 0.23% of the stock is currently owned by corporate 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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