Lucia Wealth Services LLC Acquires 1,114 Shares of AbbVie Inc (NYSE:ABBV)
Lucia Wealth Services LLC boosted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 12.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,919 shares of the company’s stock after purchasing an additional 1,114 shares during the period. Lucia Wealth Services LLC’s holdings in AbbVie were worth $751,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of AbbVie by 0.6% in the second quarter. Vanguard Group Inc. now owns 121,523,538 shares of the company’s stock valued at $8,837,192,000 after purchasing an additional 679,398 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of AbbVie by 3.3% in the second quarter. BlackRock Inc. now owns 98,295,272 shares of the company’s stock valued at $7,148,030,000 after purchasing an additional 3,100,309 shares in the last quarter. FMR LLC lifted its holdings in shares of AbbVie by 56.5% in the first quarter. FMR LLC now owns 13,200,141 shares of the company’s stock valued at $1,063,799,000 after purchasing an additional 4,765,946 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of AbbVie by 1,715.8% in the second quarter. Nuveen Asset Management LLC now owns 9,593,845 shares of the company’s stock valued at $697,664,000 after purchasing an additional 9,065,487 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of AbbVie by 2.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,613,086 shares of the company’s stock valued at $480,904,000 after purchasing an additional 182,795 shares in the last quarter. Hedge funds and other institutional investors own 68.14% of the company’s stock.
In other AbbVie news, EVP Henry O. Gosebruch purchased 30,000 shares of the stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $67.28 per share, with a total value of $2,018,400.00. Following the completion of the transaction, the executive vice president now directly owns 75,763 shares in the company, valued at $5,097,334.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Laura J. Schumacher purchased 25,000 shares of the stock in a transaction on Monday, September 16th. The shares were acquired at an average cost of $70.42 per share, for a total transaction of $1,760,500.00. Following the transaction, the insider now owns 164,838 shares of the company’s stock, valued at $11,607,891.96. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 183,077 shares of company stock worth $10,705,751. Company insiders own 0.08% of the company’s stock.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.05. The firm had revenue of $8.26 billion for the quarter, compared to the consensus estimate of $8.09 billion. AbbVie had a negative return on equity of 182.70% and a net margin of 12.62%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.00 earnings per share. On average, analysts forecast that AbbVie Inc will post 8.9 earnings per share for the current year.
The firm also recently declared a — dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 15th will be given a dividend of $1.07 per share. This represents a yield of 6.4%. The ex-dividend date is Friday, October 11th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
A number of brokerages have recently commented on ABBV. Piper Jaffray Companies boosted their price target on AbbVie from $80.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, September 4th. Leerink Swann upgraded AbbVie to a “buy” rating in a report on Tuesday, July 2nd. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a report on Wednesday, June 26th. ValuEngine upgraded AbbVie from a “strong sell” rating to a “sell” rating in a report on Monday, September 30th. Finally, Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a report on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $89.97.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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