Private Wealth Partners LLC Raises Stock Position in AbbVie Inc (NYSE:ABBV)

Private Wealth Partners LLC grew its holdings in AbbVie Inc (NYSE:ABBV) by 10.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,250 shares of the company’s stock after buying an additional 500 shares during the period. Private Wealth Partners LLC’s holdings in AbbVie were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Weaver Consulting Group purchased a new position in shares of AbbVie during the 1st quarter worth about $25,000. Prime Capital Investment Advisors LLC purchased a new position in shares of AbbVie during the 4th quarter worth about $27,000. Arbor Wealth Management LLC purchased a new position in shares of AbbVie during the 2nd quarter worth about $28,000. Lowe Wealth Advisors LLC boosted its stake in shares of AbbVie by 206.7% during the 2nd quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock worth $33,000 after purchasing an additional 310 shares during the period. Finally, Horrell Capital Management Inc. purchased a new position in shares of AbbVie during the 2nd quarter worth about $33,000. 70.03% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:ABBV traded down $0.02 during trading hours on Thursday, hitting $67.52. The company’s stock had a trading volume of 2,969,551 shares, compared to its average volume of 9,901,970. AbbVie Inc has a 52 week low of $62.66 and a 52 week high of $98.70. The company has a market capitalization of $98.41 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 1.58 and a beta of 0.96. The firm’s fifty day moving average price is $67.82 and its 200 day moving average price is $76.22.

AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the previous year, the business posted $2.00 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. Equities research analysts forecast that AbbVie Inc will post 8.88 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were issued a $1.07 dividend. The ex-dividend date was Friday, July 12th. This represents a $4.28 annualized dividend and a dividend yield of 6.34%. AbbVie’s dividend payout ratio is currently 54.11%.

A number of equities analysts recently commented on ABBV shares. Wolfe Research raised shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Leerink Swann raised shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Citigroup reaffirmed a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Goldman Sachs Group began coverage on shares of AbbVie in a research note on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price target for the company. Finally, ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $92.05.

In other news, SVP Jeffrey Ryan Stewart acquired 15,552 shares of AbbVie stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $64.44 per share, for a total transaction of $1,002,170.88. Following the purchase, the senior vice president now directly owns 65,304 shares in the company, valued at approximately $4,208,189.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roxanne S. Austin acquired 11,500 shares of AbbVie stock in a transaction that occurred on Wednesday, June 26th. The shares were purchased at an average price of $67.50 per share, with a total value of $776,250.00. Following the purchase, the director now owns 52,114 shares in the company, valued at $3,517,695. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 152,452 shares of company stock valued at $10,128,541. 0.08% of the stock is currently owned by company insiders.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström'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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Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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