BlueMountain Capital Management LLC Invests $182,000 in AbbVie Inc. (ABBV)
BlueMountain Capital Management LLC bought a new position in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,514 shares of the company’s stock, valued at approximately $182,000.
Several other large investors have also recently modified their holdings of the company. Acropolis Investment Management LLC purchased a new stake in AbbVie in the 2nd quarter valued at $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new stake in AbbVie in the 1st quarter valued at $108,000. Hudock Capital Group LLC raised its position in AbbVie by 109.5% in the 2nd quarter. Hudock Capital Group LLC now owns 1,542 shares of the company’s stock valued at $111,000 after buying an additional 806 shares during the last quarter. Ffcm LLC increased its position in shares of AbbVie by 167.2% during the 2nd quarter. Ffcm LLC now owns 1,539 shares of the company’s stock valued at $111,000 after purchasing an additional 963 shares during the last quarter. Finally, BDO Wealth Advisors LLC purchased a new stake in shares of AbbVie during the 2nd quarter valued at $115,000. 69.32% of the stock is currently owned by institutional investors.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Richard A. Gonzalez sold 218,193 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $94.01, for a total value of $20,512,323.93. Following the completion of the sale, the chairman now directly owns 492,030 shares in the company, valued at $46,255,740.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 277,125 shares of company stock worth $25,891,756. Corporate insiders own 0.23% of the company’s stock.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate 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%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. equities analysts predict that AbbVie Inc. will post 5.55 earnings per share for the current fiscal year.
The firm 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 $0.71 dividend. This is a positive change from AbbVie’s previous quarterly dividend of $0.64. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, January 11th. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
Several equities research analysts have recently issued reports on ABBV shares. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Evercore ISI reaffirmed an “outperform” rating and set a $100.00 target price (up from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Societe Generale raised their target price on AbbVie in a research report on Tuesday, November 21st. Barclays reaffirmed a “hold” rating and set a $68.00 target price on shares of AbbVie in a research report on Thursday, September 28th. Finally, ValuEngine lowered AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie currently has an average rating of “Buy” and a consensus target price of $96.66.
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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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