AbbVie Inc. (ABBV) Stake Maintained by American Financial Group Inc.
American Financial Group Inc. continued to hold its stake in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 220,000 shares of the company’s stock at the end of the 2nd quarter. AbbVie makes up about 1.5% of American Financial Group Inc.’s portfolio, making the stock its 26th largest position. American Financial Group Inc.’s holdings in AbbVie were worth $15,953,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted 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 worth $205,384,000 after purchasing an additional 193,410 shares during the last quarter. Stratford Consulting LLC lifted its holdings in AbbVie by 0.7% in the 1st quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock worth $258,000 after purchasing an additional 29 shares during the last quarter. Cadence Bank NA lifted its holdings in AbbVie by 24.7% in the 1st quarter. Cadence Bank NA now owns 16,320 shares of the company’s stock worth $1,063,000 after purchasing an additional 3,234 shares during the last quarter. Brookstone Capital Management lifted its holdings in AbbVie by 9.3% in the 1st quarter. Brookstone Capital Management now owns 93,536 shares of the company’s stock worth $6,095,000 after purchasing an additional 7,946 shares during the last quarter. Finally, Arete Wealth Advisors LLC lifted its holdings in AbbVie by 3.9% in the 1st quarter. Arete Wealth Advisors LLC now owns 9,684 shares of the company’s stock worth $631,000 after purchasing an additional 366 shares during the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.
Shares of AbbVie Inc. (ABBV) opened at $95.43 on Monday. The stock has a market capitalization of $152,347.31, a P/E ratio of 17.97, a PEG ratio of 1.32 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.32 and a debt-to-equity ratio of 5.08. AbbVie Inc. has a 1 year low of $58.60 and a 1 year high of $98.26.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. AbbVie’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 earnings per share. analysts predict that AbbVie Inc. will post 5.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Friday, January 12th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.98%. AbbVie’s payout ratio is currently 62.29%.
Several research firms recently weighed in on ABBV. Piper Jaffray Companies restated a “buy” rating and issued a $85.00 target price on shares of AbbVie in a report on Thursday, August 3rd. Evercore ISI began coverage on AbbVie in a report on Wednesday, August 16th. They issued an “outperform” rating and a $95.00 target price for the company. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday. SunTrust Banks, Inc. restated a “buy” rating and issued a $95.00 target price on shares of AbbVie in a report on Wednesday, September 13th. Finally, UBS AG lowered AbbVie from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $79.00 to $92.00 in a report on Monday, September 25th. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $93.68.
In other AbbVie news, insider Henry O. Gosebruch sold 18,300 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $90.55, for a total value of $1,657,065.00. Following the sale, the insider now directly owns 81,287 shares in the company, valued at $7,360,537.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert A. Michael sold 6,699 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the completion of the sale, the vice president now owns 10,007 shares in the company, valued at $880,616. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,299 shares of company stock worth $2,952,243. 0.23% of the stock is currently owned by company insiders.
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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