Lau Associates LLC Has $876,000 Holdings in AbbVie Inc. (ABBV)
Lau Associates LLC lessened its holdings in AbbVie Inc. (NYSE:ABBV) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,079 shares of the company’s stock after selling 1,164 shares during the quarter. Lau Associates LLC’s holdings in AbbVie were worth $876,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Command Financial Services Inc. grew its holdings in AbbVie by 6.8% during the 1st quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after acquiring an additional 99 shares during the last quarter. Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie during the 1st quarter worth about $108,000. Atwood & Palmer Inc. grew its holdings in AbbVie by 1,333.3% during the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after acquiring an additional 2,000 shares during the last quarter. Tradewinds Capital Management LLC grew its holdings in AbbVie by 87.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after acquiring an additional 1,057 shares during the last quarter. Finally, Shamrock Asset Management LLC bought a new stake in AbbVie during the 1st quarter worth about $183,000. 68.29% of the stock is currently owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 2.07% during trading on Friday, hitting $87.37. 20,441,496 shares of the stock traded hands. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $89.69. The company has a 50-day moving average of $74.86 and a 200-day moving average of $69.44. The firm has a market cap of $139.28 billion, a P/E ratio of 21.49 and a beta of 1.48.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period in the previous year, the firm earned $1.26 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be given a dividend of $0.64 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Thursday, October 12th. AbbVie’s payout ratio is 62.90%.
A number of equities research analysts have commented on ABBV shares. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $74.86 price objective on the stock in a report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $94.00 price objective (up previously from $92.00) on shares of AbbVie in a report on Monday, July 17th. Societe Generale raised shares of AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $85.00 price objective on shares of AbbVie in a report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $82.38.
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In other news, insider Henry O. Gosebruch sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $70.09, for a total transaction of $1,261,620.00. Following the transaction, the insider now directly owns 96,074 shares of the company’s stock, valued at $6,733,826.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $71.00, for a total value of $13,712,301.00. Following the transaction, the chairman now directly owns 469,623 shares in the company, valued at $33,343,233. The disclosure for this sale can be found here. Insiders have sold 373,191 shares of company stock worth $26,598,305 over the last ninety days. 0.23% of the stock is owned by 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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