AbbVie Inc. (ABBV) Stake Lowered by Investment House LLC
Investment House LLC cut its stake in AbbVie Inc. (NYSE:ABBV) by 0.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 102,006 shares of the company’s stock after selling 200 shares during the period. Investment House LLC’s holdings in AbbVie were worth $7,396,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Koshinski Asset Management Inc. boosted its stake in AbbVie by 9.2% in the first quarter. Koshinski Asset Management Inc. now owns 9,184 shares of the company’s stock valued at $598,000 after buying an additional 773 shares in the last quarter. Dynamic Advisors Solutions LLC boosted its stake in AbbVie by 680.0% in the first quarter. Dynamic Advisors Solutions LLC now owns 69,407 shares of the company’s stock valued at $4,523,000 after buying an additional 60,509 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in AbbVie by 1.9% in the first quarter. Gulf International Bank UK Ltd now owns 507,424 shares of the company’s stock valued at $33,063,000 after buying an additional 9,500 shares in the last quarter. GW&K Investment Management LLC boosted its stake in AbbVie by 4.3% in the first quarter. GW&K Investment Management LLC now owns 502,405 shares of the company’s stock valued at $32,737,000 after buying an additional 20,594 shares in the last quarter. Finally, Chesley Taft & Associates LLC boosted its stake in AbbVie by 2.6% in the first quarter. Chesley Taft & Associates LLC now owns 110,765 shares of the company’s stock valued at $7,217,000 after buying an additional 2,845 shares in the last quarter. Institutional investors own 68.27% of the company’s stock.
Shares of AbbVie Inc. (NYSE ABBV) traded up 0.57% during trading on Tuesday, reaching $73.74. 1,337,265 shares of the company traded hands. The stock’s 50 day moving average price is $71.65 and its 200-day moving average price is $67.49. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04. The stock has a market cap of $117.55 billion, a P/E ratio of 18.14 and a beta of 1.50.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, topping the Thomson Reuters’ 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 business had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same quarter in the previous year, the firm earned $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 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were given a $0.64 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $2.56 annualized dividend and a yield of 3.49%. AbbVie’s dividend payout ratio is currently 62.90%.
Several analysts recently commented on the stock. Deutsche Bank AG restated a “hold” rating and set a $66.00 price target (up from $65.00) on shares of AbbVie in a report on Monday, July 17th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price target for the company in a report on Wednesday, July 26th. BidaskClub cut shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and set a $94.00 price target (up from $92.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of AbbVie from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. AbbVie has an average rating of “Buy” and a consensus target price of $76.02.
In other AbbVie news, insider Laura J. Schumacher sold 79,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $5,586,000.00. Following the transaction, the insider now owns 187,625 shares of the company’s stock, valued at $13,133,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard A. Gonzalez sold 65,861 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $71.00, for a total value of $4,676,131.00. Following the completion of the transaction, the chief executive officer now directly owns 342,353 shares in the company, valued at approximately $24,307,063. The disclosure for this sale can be found here. In the last three months, insiders sold 490,491 shares of company stock worth $34,684,639. 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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