Kwmg LLC Has $1.81 Million Stake in AbbVie Inc. (ABBV)
Kwmg LLC lifted its stake in AbbVie Inc. (NYSE:ABBV) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,960 shares of the company’s stock after buying an additional 1,797 shares during the period. Kwmg LLC’s holdings in AbbVie were worth $1,810,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC purchased a new position in AbbVie during the 2nd quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in AbbVie during the 1st quarter valued at about $108,000. Atwood & Palmer Inc. increased 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 valued at $140,000 after purchasing an additional 2,000 shares during the period. Tradewinds Capital Management LLC increased 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 valued at $148,000 after purchasing an additional 1,057 shares during the period. Finally, Exane Asset Management purchased a new position in AbbVie during the 2nd quarter valued at about $181,000. Hedge funds and other institutional investors own 68.25% of the company’s stock.
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AbbVie Inc. (NYSE:ABBV) traded up 0.08% on Friday, hitting $87.48. The company’s stock had a trading volume of 6,806,950 shares. The firm has a market cap of $139.45 billion, a price-to-earnings ratio of 16.63 and a beta of 1.48. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $89.69. The firm has a 50 day moving average of $75.76 and a 200 day moving average of $69.87.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion for the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. Equities research analysts forecast that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s payout ratio is 62.90%.
In related news, insider Henry O. Gosebruch sold 18,000 shares of AbbVie stock in a transaction that occurred on Monday, July 31st. The shares were 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 filing with the SEC, which is accessible through this link. Also, CEO Richard A. Gonzalez sold 65,861 shares of AbbVie stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $71.00, for a total transaction of $4,676,131.00. Following the transaction, the chief executive officer now directly owns 342,353 shares in the company, valued at $24,307,063. The disclosure for this sale can be found here. Over the last three months, insiders have sold 373,191 shares of company stock worth $26,598,305. 0.23% of the stock is currently owned by corporate insiders.
A number of research analysts recently issued reports on ABBV shares. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Credit Suisse Group restated a “hold” rating and set a $65.00 price target on shares of AbbVie in a report on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $100.00 price target (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Zacks Investment Research downgraded AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Jefferies Group LLC restated a “buy” rating and set a $94.00 price target on shares of AbbVie in a report on Friday, September 8th. Seven 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. AbbVie currently has a consensus rating of “Buy” and a consensus price target of $82.38.
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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