Quotient Investors LLC held its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,600 shares of the company’s stock at the end of the second quarter. Quotient Investors LLC’s holdings in AbbVie were worth $821,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the stock. First Command Financial Services Inc. increased its position in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares in the last quarter. Acropolis Investment Management LLC bought a new position in AbbVie during the second quarter valued at approximately $106,000. Franklin Parlapiano Turner & Welch LLC bought a new position in AbbVie during the first quarter valued at approximately $108,000. Atwood & Palmer Inc. increased its position in AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after buying an additional 2,000 shares in the last quarter. Finally, Tradewinds Capital Management LLC increased its position in AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after buying an additional 1,057 shares in the last quarter. Institutional investors and hedge funds own 67.69% of the company’s stock.
AbbVie Inc. (NYSE ABBV) traded up 0.16% during mid-day trading on Friday, reaching $69.96. The company’s stock had a trading volume of 4,016,367 shares. The firm’s 50 day moving average is $71.72 and its 200-day moving average is $67.10. The stock has a market cap of $111.52 billion, a P/E ratio of 17.21 and a beta of 1.50. AbbVie Inc. has a one year low of $55.06 and a one year high of $75.04.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.02. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The firm had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period last year, the firm earned $1.26 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts expect that AbbVie Inc. will post $5.52 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were paid a dividend of $0.64 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 3.66%. AbbVie’s dividend payout ratio is presently 62.90%.
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Several research analysts have recently commented on ABBV shares. Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price objective on the stock in a report on Monday, May 8th. Credit Suisse Group reiterated a “neutral” rating and issued a $74.00 price objective (up previously from $65.00) on shares of AbbVie in a report on Thursday, July 20th. BMO Capital Markets set a $63.00 price objective on AbbVie and gave the stock a “hold” rating in a report on Thursday, April 27th. BidaskClub upgraded AbbVie from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Finally, Leerink Swann reiterated a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $76.02.
In other AbbVie news, Chairman Richard A. Gonzalez sold 87,899 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $71.02, for a total value of $6,242,586.98. Following the completion of the sale, the chairman now directly owns 342,353 shares in the company, valued at $24,313,910.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Laura J. Schumacher sold 79,800 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $5,586,000.00. Following the completion of the sale, the insider now owns 187,625 shares of the company’s stock, valued at $13,133,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 490,491 shares of company stock worth $34,684,639. Insiders own 0.23% of the company’s stock.
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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