AbbVie Inc. (ABBV) Stake Maintained by Renaissance Investment Group LLC
Renaissance Investment Group LLC continued to hold its position in AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,630 shares of the company’s stock at the close of the 2nd quarter. Renaissance Investment Group LLC’s holdings in AbbVie were worth $480,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in ABBV. Acropolis Investment Management LLC acquired a new position in AbbVie during the 2nd quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in AbbVie in the first quarter valued at about $108,000. Atwood & Palmer Inc. raised 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 valued at $140,000 after buying an additional 2,000 shares during the last quarter. Tradewinds Capital Management LLC raised its stake in AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after buying an additional 1,057 shares during the last quarter. Finally, Shamrock Asset Management LLC purchased a new stake in AbbVie in the first quarter valued at about $183,000. Institutional investors and hedge funds own 68.26% of the company’s stock.
AbbVie Inc. (NYSE ABBV) traded down 1.25% during midday trading on Tuesday, reaching $89.26. The company’s stock had a trading volume of 2,305,077 shares. The stock has a market cap of $142.29 billion, a P/E ratio of 21.95 and a beta of 1.51. The stock’s 50 day moving average is $80.00 and its 200 day moving average is $71.33. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $90.95. AbbVie also saw unusually large options trading activity on Monday. Stock investors bought 278 put options on the stock. This represents an increase of 121% compared to the typical daily volume of 126 put options.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, topping the 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 company 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 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be paid a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is 62.90%.
COPYRIGHT VIOLATION WARNING: This article was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2017/10/03/abbvie-inc-abbv-stake-maintained-by-renaissance-investment-group-llc.html.
In other AbbVie news, insider Henry O. Gosebruch sold 18,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $70.09, for a total value of $1,261,620.00. Following the completion of 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 available at this link. Also, Director Edward J. Rapp bought 4,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was bought at an average cost of $70.45 per share, with a total value of $281,800.00. Following the completion of the acquisition, the director now owns 15,498 shares of the company’s stock, valued at approximately $1,091,834.10. The disclosure for this purchase can be found here. Insiders sold 379,890 shares of company stock valued at $27,187,817 in the last quarter. Company insiders own 0.23% of the company’s stock.
ABBV has been the topic of a number of research analyst reports. Piper Jaffray Companies restated a “buy” rating and set a $100.00 price target on shares of AbbVie in a research note on Friday, September 15th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $107.00 price objective (up from $94.00) on shares of AbbVie in a research report on Friday, September 15th. Barclays PLC reaffirmed a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a research report on Thursday, September 28th. BMO Capital Markets reiterated a “hold” rating and issued a $66.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Finally, Deutsche Bank AG lifted their target price on shares of AbbVie to $88.00 and gave the stock a “hold” rating in a research note on Thursday, September 28th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $89.90.
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.
Receive News & Stock Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related stocks with our FREE daily email newsletter.