Windsor Capital Management LLC increased its stake in AbbVie Inc. (NYSE:ABBV) by 2.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,510 shares of the company’s stock after acquiring an additional 383 shares during the quarter. Windsor Capital Management LLC’s holdings in AbbVie were worth $979,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of ABBV. State Street Corp grew its holdings in shares of AbbVie by 2.4% during the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after buying an additional 1,696,042 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of AbbVie by 41.5% during the second quarter. Prudential Financial Inc. now owns 5,469,241 shares of the company’s stock valued at $396,575,000 after buying an additional 1,603,748 shares in the last quarter. Comerica Bank grew its holdings in shares of AbbVie by 81.7% during the second quarter. Comerica Bank now owns 1,849,149 shares of the company’s stock valued at $136,671,000 after buying an additional 831,625 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of AbbVie by 297.9% during the first quarter. Bank of Nova Scotia now owns 606,321 shares of the company’s stock valued at $39,507,000 after buying an additional 453,955 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of AbbVie by 42.3% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,202,483 shares of the company’s stock valued at $78,354,000 after buying an additional 357,353 shares in the last quarter. Institutional investors and hedge funds own 67.65% of the company’s stock.
In other news, EVP Michael Severino sold 25,633 shares of AbbVie stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $94.69, for a total value of $2,427,188.77. Following the transaction, the executive vice president now directly owns 114,922 shares in the company, valued at $10,881,964.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Azita Saleki-Gerhardt sold 8,300 shares of AbbVie stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $85.02, for a total value of $705,666.00. Following the completion of the transaction, the senior vice president now owns 93,099 shares in the company, valued at $7,915,276.98. The disclosure for this sale can be found here. Insiders sold 58,932 shares of company stock valued at $5,379,432 in the last ninety days. Insiders own 0.23% of the company’s stock.
AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. AbbVie had a return on equity of 153.80% and a net margin of 24.38%. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. sell-side analysts expect that AbbVie Inc. will post 5.55 EPS for the current fiscal 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 given a $0.71 dividend. The ex-dividend date is Thursday, January 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.00%. This is a boost from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s payout ratio is currently 62.29%.
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A number of research analysts have recently weighed in on ABBV shares. Societe Generale lifted their price target on AbbVie in a report on Tuesday. Piper Jaffray Companies reiterated a “buy” rating and set a $100.00 price target on shares of AbbVie in a report on Friday, September 15th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $95.00 price target on shares of AbbVie in a report on Wednesday, September 13th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $100.00 price target (up previously from $85.00) on shares of AbbVie in a report on Friday, September 8th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $94.00 price target on shares of AbbVie in a report on Friday, September 8th. Eight analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $93.68.
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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