Alexandria Capital LLC Continues to Hold Position in AbbVie Inc. (ABBV)
Alexandria Capital LLC continued to hold its position in AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,724 shares of the company’s stock at the end of the 2nd quarter. Alexandria Capital LLC’s holdings in AbbVie were worth $343,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the stock. Acropolis Investment Management LLC purchased a new position in AbbVie in the second quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of AbbVie in the 1st quarter worth $108,000. Atwood & Palmer Inc. boosted its position in shares of AbbVie by 1,333.3% in the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after purchasing an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC boosted its position in shares of AbbVie by 87.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Exane Asset Management acquired a new stake in shares of AbbVie in the 2nd quarter worth $181,000. 68.26% of the stock is owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) opened at 90.39 on Tuesday. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $90.95. The stock has a market capitalization of $144.09 billion, a price-to-earnings ratio of 22.23 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 also saw some unusual options trading on Monday. Investors acquired 278 put options on the stock. This represents an increase of 121% compared to the average volume of 126 put options.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $6.93 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc. will post $5.52 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be paid a $0.64 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 annualized dividend and a yield of 2.83%. AbbVie’s dividend payout ratio is currently 62.90%.
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In other news, CEO Richard A. Gonzalez sold 65,861 shares of AbbVie stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $71.00, for a total value of $4,676,131.00. Following the sale, the chief executive officer now owns 342,353 shares of the company’s stock, valued at $24,307,063. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Henry O. Gosebruch sold 18,000 shares of the business’s stock in a transaction dated 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 owns 96,074 shares in the company, valued at $6,733,826.66. The disclosure for this sale can be found here. Insiders sold a total of 379,890 shares of company stock worth $27,187,817 over the last three months. 0.23% of the stock is currently owned by corporate insiders.
ABBV has been the subject of a number of research analyst reports. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Credit Suisse Group restated a “hold” rating and set a $65.00 price objective on shares of AbbVie in a report on Wednesday, June 7th. Jefferies Group LLC restated a “buy” rating and set a $94.00 price objective on shares of AbbVie in a report on Friday, September 8th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $100.00 price objective (up from $85.00) on shares of AbbVie in a research report on Friday, September 8th. Finally, Zacks Investment Research cut shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. AbbVie presently has an average rating of “Buy” and a consensus target price of $89.90.
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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