AbbVie Inc. (ABBV) Shares Bought by Taylor Cottrill Erickson & Associates Inc.
Taylor Cottrill Erickson & Associates Inc. raised its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,803 shares of the company’s stock after buying an additional 400 shares during the period. Taylor Cottrill Erickson & Associates Inc.’s holdings in AbbVie were worth $3,104,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie in the second quarter valued at $106,000. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of AbbVie in the first quarter valued at $108,000. Atwood & Palmer Inc. raised its stake in shares of 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 acquiring an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in shares of 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 acquiring an additional 1,057 shares in the last quarter. Finally, Exane Asset Management acquired a new stake in shares of AbbVie in the second quarter valued at $181,000. Institutional investors and hedge funds own 68.26% of the company’s stock.
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Several brokerages have recently issued reports on ABBV. Leerink Swann upgraded AbbVie from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $89.00 to $106.00 in a research note on Monday, October 2nd. Credit Suisse Group reiterated a “neutral” rating and issued a $94.00 price objective (up from $74.00) on shares of AbbVie in a research note on Sunday, October 1st. Evercore ISI reiterated an “outperform” rating and issued a $100.00 price objective (up from $95.00) on shares of AbbVie in a research note on Saturday, September 30th. Barclays PLC reiterated a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $66.00 price objective on shares of AbbVie in a research note on Thursday, September 28th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. AbbVie currently has a consensus rating of “Buy” and an average target price of $89.90.
Shares of AbbVie Inc. (NYSE:ABBV) opened at 90.49 on Monday. The firm has a market cap of $144.25 billion, a PE ratio of 22.26 and a beta of 1.51. The stock’s 50 day moving average price is $82.25 and its 200-day moving average price is $71.95. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $91.33.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 24.77% and a return on equity of 150.27%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 EPS. On average, equities research analysts anticipate 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.83%. AbbVie’s dividend payout ratio (DPR) is presently 62.90%.
In other news, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now owns 10,007 shares in the company, valued at approximately $880,616. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Edward J. Rapp bought 4,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was bought at an average price of $70.45 per share, for a total transaction of $281,800.00. Following the purchase, the director now owns 15,498 shares in the company, valued at approximately $1,091,834.10. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 379,890 shares of company stock worth $27,187,817. Company insiders own 0.23% of the company’s stock.
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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