AbbVie Inc. (ABBV) Position Held by Gemmer Asset Management LLC
Gemmer Asset Management LLC continued to hold its position in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,943 shares of the company’s stock at the end of the second quarter. Gemmer Asset Management LLC’s holdings in AbbVie were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of the business. State Street Corp boosted its holdings in AbbVie by 2.4% in the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after purchasing an additional 1,696,042 shares during the last quarter. Legal & General Group Plc boosted its holdings in AbbVie by 4.1% in the 1st quarter. Legal & General Group Plc now owns 7,918,192 shares of the company’s stock valued at $515,956,000 after purchasing an additional 312,055 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in AbbVie by 2.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 5,136,674 shares of the company’s stock valued at $334,706,000 after purchasing an additional 130,740 shares during the last quarter. Aristotle Capital Management LLC boosted its holdings in AbbVie by 3.5% in the 1st quarter. Aristotle Capital Management LLC now owns 4,526,623 shares of the company’s stock valued at $294,954,000 after purchasing an additional 154,719 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in AbbVie by 6.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,151,990 shares of the company’s stock valued at $205,384,000 after purchasing an additional 193,410 shares during the last quarter. Institutional investors own 68.26% of the company’s stock.
In other AbbVie news, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total transaction of $705,666.00. Following the transaction, the senior vice president now directly owns 93,099 shares of the company’s stock, valued at $7,915,276.98. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Robert A. Michael sold 6,699 shares of AbbVie stock in a transaction that occurred 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 directly owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Insiders sold 379,890 shares of company stock worth $27,187,817 over the last three months. Corporate insiders own 0.23% of the company’s stock.
Several equities analysts have weighed in on ABBV shares. BidaskClub upgraded shares of AbbVie from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $94.00 target price on shares of AbbVie in a report on Friday, September 8th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $100.00 target price (up from $85.00) on shares of AbbVie in a report on Friday, September 8th. Zacks Investment Research lowered shares of AbbVie from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Leerink Swann reiterated a “market perform” rating on shares of AbbVie in a report on Tuesday, September 12th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $89.90.
Shares of AbbVie Inc. (NYSE ABBV) traded down 0.07% during midday trading on Friday, reaching $90.12. 1,941,908 shares of the company traded hands. The stock has a market capitalization of $143.66 billion, a price-to-earnings ratio of 22.16 and a beta of 1.51. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $91.33. The company’s 50 day moving average is $81.66 and its 200-day moving average is $71.77.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period last year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts forecast 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 $0.64 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.56 annualized dividend and a dividend yield of 2.84%. AbbVie’s dividend payout ratio is presently 62.90%.
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.
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