Peddock Capital Advisors LLC held its position in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,350 shares of the company’s stock at the end of the 2nd quarter. Peddock Capital Advisors LLC’s holdings in AbbVie were worth $243,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in ABBV. Acropolis Investment Management LLC purchased a new position in AbbVie in the 2nd quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC purchased a new position in AbbVie in the 1st quarter valued at about $108,000. Atwood & Palmer Inc. lifted its holdings in AbbVie by 1,333.3% in the 1st quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock valued at $140,000 after purchasing an additional 2,000 shares in the last quarter. Tradewinds Capital Management LLC lifted its holdings in AbbVie by 87.2% in the 1st quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after purchasing an additional 1,057 shares in the last quarter. Finally, Exane Asset Management purchased a new position in AbbVie in the 2nd quarter valued at about $181,000. Institutional investors and hedge funds own 68.16% of the company’s stock.
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In other news, EVP Michael Severino sold 25,633 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $94.69, for a total transaction of $2,427,188.77. Following the completion of the transaction, the executive vice president now directly owns 114,922 shares in the company, valued at approximately $10,881,964.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Robert A. Michael sold 6,699 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $88.00, for a total value of $589,512.00. Following the transaction, the vice president now owns 10,007 shares of the company’s stock, valued at $880,616. The disclosure for this sale can be found here. In the last 90 days, insiders sold 58,932 shares of company stock valued at $5,379,432. 0.23% of the stock is owned by company insiders.
AbbVie Inc. (NYSE ABBV) opened at $95.12 on Tuesday. The firm has a market capitalization of $152,347.31, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 1.32 and a beta of 1.51. AbbVie Inc. has a fifty-two week low of $58.60 and a fifty-two week high of $98.26. The company has a debt-to-equity ratio of 5.08, a current ratio of 1.45 and a quick ratio of 1.32.
AbbVie (NYSE:ABBV) last released its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion during 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%. AbbVie’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 EPS. equities analysts forecast that AbbVie Inc. will post 5.55 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio is currently 62.29%.
A number of research analysts have recently commented on the stock. Vetr raised shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective for the company in a research note on Wednesday, July 26th. Deutsche Bank AG reaffirmed a “hold” rating and set a $66.00 price objective (up previously from $65.00) on shares of AbbVie in a research note on Monday, July 17th. BidaskClub downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $94.00 price objective (up previously from $92.00) on shares of AbbVie in a research note on Monday, July 17th. Finally, UBS AG reaffirmed a “neutral” rating on shares of AbbVie in a research note on Friday, October 13th. Eight research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. AbbVie presently has a consensus rating of “Buy” and an average target price of $93.68.
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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