Gilman Hill Asset Management LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,054 shares of the company’s stock after purchasing an additional 288 shares during the period. Gilman Hill Asset Management LLC’s holdings in AbbVie were worth $1,019,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in ABBV. Verde Servicos Internacionais S.A. increased its stake in AbbVie by 2.0% in the first quarter. Verde Servicos Internacionais S.A. now owns 39,840 shares of the company’s stock valued at $2,595,000 after purchasing an additional 798 shares during the last quarter. Gierl Augustine Investment Management Inc increased its stake in AbbVie by 8.0% in the first quarter. Gierl Augustine Investment Management Inc now owns 54,762 shares of the company’s stock valued at $3,568,000 after purchasing an additional 4,058 shares during the last quarter. Weybosset Research & Management LLC increased its stake in AbbVie by 21.6% in the first quarter. Weybosset Research & Management LLC now owns 4,500 shares of the company’s stock valued at $293,000 after purchasing an additional 800 shares during the last quarter. Stokes & Hubbell Capital Management LLC increased its stake in AbbVie by 23.8% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 44,284 shares of the company’s stock valued at $2,886,000 after purchasing an additional 8,503 shares during the last quarter. Finally, Prospera Financial Services Inc increased its stake in AbbVie by 305.4% in the first quarter. Prospera Financial Services Inc now owns 67,777 shares of the company’s stock valued at $4,409,000 after purchasing an additional 51,057 shares during the last quarter. Institutional investors own 68.29% of the company’s stock.
Several equities analysts have commented on ABBV shares. Credit Suisse Group reiterated a “hold” rating and issued a $65.00 price target on shares of AbbVie in a research note on Wednesday, June 7th. BMO Capital Markets reiterated a “market perform” rating and issued a $66.00 price target on shares of AbbVie in a research note on Wednesday, May 17th. Zacks Investment Research lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Societe Generale upgraded shares of AbbVie from a “hold” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of AbbVie in a research note on Friday, May 26th. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. AbbVie presently has a consensus rating of “Buy” and an average target price of $79.25.
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In related news, Director Edward J. Rapp bought 4,000 shares of AbbVie stock in a transaction dated Monday, July 31st. The stock was acquired at an average cost of $70.45 per share, with a total value of $281,800.00. Following the completion of the acquisition, the director now directly owns 15,498 shares in the company, valued at approximately $1,091,834.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Henry O. Gosebruch sold 18,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $70.09, for a total value of $1,261,620.00. Following the sale, the insider now directly owns 96,074 shares of the company’s stock, valued at $6,733,826.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 490,491 shares of company stock valued at $34,684,639. Insiders own 0.23% of the company’s stock.
Shares of AbbVie Inc. (NYSE ABBV) traded up 0.89% during midday trading on Monday, hitting $86.10. The company had a trading volume of 6,344,698 shares. The stock’s 50-day moving average price is $72.68 and its 200-day moving average price is $68.61. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $86.75. The company has a market cap of $137.25 billion, a price-to-earnings ratio of 21.18 and a beta of 1.48.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 28th. The company reported $1.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.02. The business had revenue of $6.94 billion during the quarter, compared to analyst estimates of $6.93 billion. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The company’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 earnings per share. On average, equities research analysts forecast that AbbVie Inc. will post $5.52 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.64 dividend. The ex-dividend date is Thursday, October 12th. This represents a $2.56 annualized dividend and a dividend yield of 3.00%. AbbVie’s dividend payout ratio (DPR) is 62.90%.
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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