AbbVie Inc. (NYSE:ABBV) Shares Bought by Bowling Portfolio Management LLC
Bowling Portfolio Management LLC increased its holdings in AbbVie Inc. (NYSE:ABBV) by 342.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,144 shares of the company’s stock after buying an additional 21,006 shares during the quarter. Bowling Portfolio Management LLC’s holdings in AbbVie were worth $2,378,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of ABBV. Capstone Financial Group Inc. acquired a new position in AbbVie in the 2nd quarter worth approximately $25,000. Lake Point Wealth Management increased its holdings in AbbVie by 179.4% in the 1st quarter. Lake Point Wealth Management now owns 475 shares of the company’s stock worth $36,000 after buying an additional 305 shares during the period. RMR Wealth Builders acquired a new position in AbbVie in the 2nd quarter worth approximately $44,000. Weaver Consulting Group increased its holdings in AbbVie by 64.3% in the 2nd quarter. Weaver Consulting Group now owns 562 shares of the company’s stock worth $55,000 after buying an additional 220 shares during the period. Finally, Larson Financial Group LLC boosted its position in AbbVie by 56.4% in the 2nd quarter. Larson Financial Group LLC now owns 638 shares of the company’s stock worth $63,000 after purchasing an additional 230 shares in the last quarter. Institutional investors own 68.23% of the company’s stock.
ABBV has been the topic of a number of recent analyst reports. Berenberg Bank began coverage on AbbVie in a research report on Tuesday, September 29th. They set a “hold” rating and a $98.00 target price on the stock. Atlantic Securities raised AbbVie from a “neutral” rating to an “overweight” rating and set a $115.00 price objective for the company in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. raised their target price on AbbVie from $115.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho reaffirmed a “buy” rating and issued a $111.00 target price on shares of AbbVie in a research note on Sunday, September 27th. Finally, Royal Bank of Canada raised their target price on AbbVie from $125.00 to $127.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $108.63.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 31st. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.20 by $0.14. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The company had revenue of $10.43 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period last year, the business posted $2.26 EPS. AbbVie’s revenue for the quarter was up 26.3% on a year-over-year basis. Equities research analysts anticipate that AbbVie Inc. will post 10.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a dividend of $1.18 per share. This represents a $4.72 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date is Wednesday, October 14th. AbbVie’s dividend payout ratio (DPR) is 52.80%.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals in the United States, Japan, Germany, Canada, France, Spain, Italy, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal BehÃ§et's diseases; SKYRIZI to treat moderate to severe plaque psoriasis in adults; RINVOQ, a JAK inhibitor for the treatment of moderate to severe active rheumatoid arthritis in adult patients; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenstrÃ¶m'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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