Parallel Advisors LLC Buys 264 Shares of AbbVie Inc. (ABBV)
Parallel Advisors LLC boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,077 shares of the company’s stock after purchasing an additional 264 shares during the quarter. Parallel Advisors LLC’s holdings in AbbVie were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Acropolis Investment Management LLC bought a new stake in AbbVie during the second quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie during the first quarter valued at about $108,000. Tradewinds Capital Management LLC boosted its position in AbbVie by 87.2% during the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after purchasing an additional 1,057 shares in the last quarter. Exane Asset Management bought a new stake in AbbVie during the second quarter valued at about $181,000. Finally, Camarda Financial Advisors LLC boosted its position in AbbVie by 18.5% during the second quarter. Camarda Financial Advisors LLC now owns 2,508 shares of the company’s stock valued at $182,000 after purchasing an additional 391 shares in the last quarter. 67.65% of the stock is currently owned by institutional investors.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $88.00, for a total value of $589,512.00. Following the sale, the vice president now directly owns 10,007 shares of the company’s stock, valued at $880,616. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the sale, the senior vice president now directly owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,932 shares of company stock worth $5,379,432. 0.23% of the stock is owned by corporate insiders.
Shares of AbbVie Inc. (ABBV) opened at $93.61 on Monday. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32. AbbVie Inc. has a 1-year low of $58.60 and a 1-year high of $98.26. The company has a market capitalization of $149,220.00, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52.
AbbVie (NYSE:ABBV) last issued its quarterly earnings data on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. During the same period last year, the company earned $1.21 earnings per share. AbbVie’s quarterly revenue was up 8.8% compared to the same quarter last year. equities research analysts anticipate that AbbVie Inc. will post 5.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 annualized dividend and a yield of 3.03%. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is presently 61.84%.
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A number of equities research analysts have commented on the company. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 11th. Zacks Investment Research cut AbbVie from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. SunTrust Banks, Inc. restated a “buy” rating on shares of AbbVie in a research note on Monday, October 30th. Leerink Swann reduced their price objective on AbbVie from $108.00 to $107.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. Finally, BMO Capital Markets set a $66.00 price objective on AbbVie and gave the stock a “hold” rating in a research note on Friday, October 27th. Eight research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $93.68.
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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