Nelson Roberts Investment Advisors LLC Continues to Hold Stake in AbbVie Inc. (ABBV)
Nelson Roberts Investment Advisors LLC maintained its position in AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,668 shares of the company’s stock at the end of the first quarter. Nelson Roberts Investment Advisors LLC’s holdings in AbbVie were worth $304,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Canada Pension Plan Investment Board raised its position in AbbVie by 6.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,151,990 shares of the company’s stock worth $205,384,000 after buying an additional 193,410 shares during the last quarter. US Bancorp DE raised its position in AbbVie by 0.3% in the first quarter. US Bancorp DE now owns 2,947,561 shares of the company’s stock worth $192,064,000 after buying an additional 9,289 shares during the last quarter. Rhumbline Advisers raised its position in AbbVie by 0.3% in the first quarter. Rhumbline Advisers now owns 2,455,314 shares of the company’s stock worth $159,988,000 after buying an additional 7,181 shares during the last quarter. Great West Life Assurance Co. Can raised its position in AbbVie by 0.6% in the first quarter. Great West Life Assurance Co. Can now owns 1,642,457 shares of the company’s stock worth $106,949,000 after buying an additional 9,709 shares during the last quarter. Finally, First Trust Advisors LP raised its position in AbbVie by 11.8% in the first quarter. First Trust Advisors LP now owns 1,367,680 shares of the company’s stock worth $89,118,000 after buying an additional 144,231 shares during the last quarter. 68.27% of the stock is currently owned by institutional investors.
AbbVie Inc. (NYSE ABBV) traded down 0.03% during mid-day trading on Wednesday, reaching $73.87. The company’s stock had a trading volume of 645,059 shares. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04. The firm has a market capitalization of $117.76 billion, a P/E ratio of 18.17 and a beta of 1.50. The firm’s 50 day moving average price is $71.65 and its 200 day moving average price is $67.49.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The company had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $1.26 earnings per share. On average, analysts anticipate that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Friday, July 14th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $2.56 annualized dividend and a dividend yield of 3.46%. AbbVie’s dividend payout ratio is 62.90%.
A number of research firms have recently issued reports on ABBV. Deutsche Bank AG reissued a “hold” rating and issued a $66.00 target price (up previously from $65.00) on shares of AbbVie in a report on Monday, July 17th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $76.28 target price on the stock in a report on Wednesday, July 26th. BidaskClub lowered AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 target price (up previously from $92.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a report on Thursday, July 13th. Nine equities research 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. The stock currently has a consensus rating of “Buy” and a consensus price target of $76.02.
In related news, EVP Carlos Alban sold 45,800 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $3,206,000.00. Following the sale, the executive vice president now owns 160,545 shares in the company, valued at approximately $11,238,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Gonzalez sold 87,899 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the sale, the chairman now owns 342,353 shares in the company, valued at approximately $24,313,910.06. The disclosure for this sale can be found here. Insiders have sold a total of 490,491 shares of company stock worth $34,684,639 in the last quarter. 0.23% of the stock is currently owned by company insiders.
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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