AbbVie Inc. (ABBV) Shares Bought by Franklin Street Advisors Inc. NC
Franklin Street Advisors Inc. NC boosted its holdings in AbbVie Inc. (NYSE:ABBV) by 12.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 215,187 shares of the company’s stock after buying an additional 23,908 shares during the period. AbbVie makes up about 2.7% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 5th biggest position. Franklin Street Advisors Inc. NC’s holdings in AbbVie were worth $15,603,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Acropolis Investment Management LLC acquired a new position in AbbVie in the second quarter valued at approximately $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new position in AbbVie in the first quarter valued at approximately $108,000. Atwood & Palmer Inc. lifted its holdings 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 period. Tradewinds Capital Management LLC lifted its holdings 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 period. Finally, Signature Estate & Investment Advisors LLC acquired a new position in AbbVie in the first quarter valued at approximately $183,000. Institutional investors and hedge funds own 68.26% of the company’s stock.
In related news, Chairman Richard A. Gonzalez sold 87,899 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the transaction, the chairman now owns 342,353 shares in the company, valued at approximately $24,313,910.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total transaction of $589,512.00. Following the transaction, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The disclosure for this sale can be found here. Insiders have sold a total of 379,890 shares of company stock worth $27,187,817 in the last quarter. 0.23% of the stock is owned by corporate insiders.
Shares of AbbVie Inc. (NYSE ABBV) traded up 0.61% during midday trading on Thursday, hitting $90.45. 2,108,045 shares of the stock traded hands. The stock has a market capitalization of $144.19 billion, a P/E ratio of 22.25 and a beta of 1.51. The firm has a 50-day moving average price of $81.10 and a 200-day moving average price of $71.64. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $90.95. AbbVie also saw some unusual options trading activity on Monday. Stock traders purchased 278 put options on the company. This represents an increase of approximately 121% compared to the typical daily 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 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 the consensus estimate of $6.93 billion. During the same quarter in the previous year, the company earned $1.26 EPS. AbbVie’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The business 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 dividend of $0.64 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.85%. AbbVie’s payout ratio is presently 62.90%.
ABBV has been the topic of several analyst reports. Credit Suisse Group restated a “hold” rating and issued a $65.00 price objective on shares of AbbVie in a report on Wednesday, June 7th. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $72.72 price objective on the stock. in a report on Wednesday, June 14th. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Leerink Swann restated a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $89.90.
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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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