AbbVie Inc. (ABBV) Holdings Cut by Chesley Taft & Associates LLC
Chesley Taft & Associates LLC decreased its holdings in shares of AbbVie Inc. (NYSE:ABBV) by 0.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,140 shares of the company’s stock after selling 625 shares during the quarter. Chesley Taft & Associates LLC’s holdings in AbbVie were worth $7,986,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Acropolis Investment Management LLC acquired a new stake in AbbVie during the second quarter worth $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in AbbVie during the first quarter worth $108,000. Atwood & Palmer Inc. increased its stake in AbbVie by 1,333.3% during the first 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 increased its stake in AbbVie by 87.2% during the first 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, Signature Estate & Investment Advisors LLC acquired a new stake in AbbVie during the first quarter worth $183,000. 68.26% of the stock is owned by institutional investors.
Several research firms have issued reports on ABBV. Barclays PLC reissued a “hold” rating and set a $68.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Evercore ISI reissued an “outperform” rating and set a $100.00 target price (up previously from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Piper Jaffray Companies reissued a “buy” rating and set a $85.00 target price on shares of AbbVie in a research note on Thursday, August 3rd. BMO Capital Markets reissued a “hold” rating and set a $66.00 target price on shares of AbbVie in a research note on Thursday, September 28th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $94.00 target price (up previously from $74.00) on shares of AbbVie in a research note on Sunday. Nine investment 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 a consensus target price of $89.90.
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In related news, Director Edward J. Rapp purchased 4,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was purchased at an average cost of $70.45 per share, for a total transaction of $281,800.00. Following the acquisition, the director now owns 15,498 shares in the company, valued at $1,091,834.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Henry O. Gosebruch sold 18,000 shares of the stock in a transaction on 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 sale, the insider now owns 96,074 shares of the company’s stock, 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 ninety days. Corporate insiders own 0.23% of the company’s stock.
AbbVie Inc. (ABBV) traded up 0.61% on Thursday, reaching $90.45. The company had a trading volume of 2,108,045 shares. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $90.95. The firm has a 50-day moving average of $81.10 and a 200-day moving average of $71.64. The stock has a market capitalization of $144.19 billion, a P/E ratio of 22.25 and a beta of 1.51. AbbVie also was the target of unusually large options trading on Monday. Stock investors acquired 278 put options on the stock. This is 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 earnings per share for the quarter, topping the 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 return on equity of 150.27% and a net margin of 24.77%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. On average, equities research analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Investors of record on Friday, October 13th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Thursday, October 12th. AbbVie’s dividend payout ratio (DPR) is currently 62.90%.
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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