Garde Capital Inc. acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,476 shares of the company’s stock, valued at approximately $325,000.
Several other large investors also recently made changes to their positions in ABBV. Accident Compensation Corp boosted its holdings in shares of AbbVie by 24.7% during the first quarter. Accident Compensation Corp now owns 66,200 shares of the company’s stock worth $4,314,000 after purchasing an additional 13,100 shares during the period. Investec Asset Management LTD boosted its holdings in shares of AbbVie by 3.6% during the first quarter. Investec Asset Management LTD now owns 166,978 shares of the company’s stock worth $10,880,000 after purchasing an additional 5,801 shares during the period. Comerica Securities Inc. boosted its holdings in shares of AbbVie by 832.7% during the first quarter. Comerica Securities Inc. now owns 66,443 shares of the company’s stock worth $4,329,000 after purchasing an additional 59,319 shares during the period. Suntrust Banks Inc. boosted its holdings in shares of AbbVie by 3.7% during the first quarter. Suntrust Banks Inc. now owns 1,216,484 shares of the company’s stock worth $79,265,000 after purchasing an additional 43,617 shares during the period. Finally, Clean Yield Group boosted its holdings in shares of AbbVie by 25.0% during the first quarter. Clean Yield Group now owns 9,598 shares of the company’s stock worth $625,000 after purchasing an additional 1,920 shares during the period. 68.43% of the stock is currently owned by hedge funds and other institutional investors.
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Several brokerages have commented on ABBV. Piper Jaffray Companies raised their price objective on shares of AbbVie to $115.00 and gave the stock an “overweight” rating in a report on Friday. Barclays PLC restated a “hold” rating and issued a $68.00 price objective on shares of AbbVie in a report on Thursday, September 28th. Evercore ISI restated an “outperform” rating and issued a $100.00 price objective (up from $95.00) on shares of AbbVie in a report on Saturday, September 30th. BidaskClub lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets reiterated a “hold” rating and set a $66.00 target price on shares of AbbVie in a report on Thursday, September 28th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $93.63.
Shares of AbbVie Inc. (ABBV) opened at 91.93 on Friday. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $98.26. The company has a market cap of $146.55 billion, a P/E ratio of 22.61 and a beta of 1.51. The firm has a 50-day moving average of $89.15 and a 200-day moving average of $74.55.
AbbVie (NYSE:ABBV) last posted its earnings results on Friday, October 27th. The company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The company had revenue of $7 billion during the quarter, compared to analysts’ expectations of $7 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. AbbVie’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.21 earnings per share. Equities research analysts forecast that AbbVie Inc. will post $5.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.78%. AbbVie’s dividend payout ratio is currently 62.90%.
In other AbbVie news, VP Robert A. Michael sold 6,699 shares of the firm’s stock in a transaction 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 completion of the transaction, the vice president now owns 10,007 shares of the company’s stock, valued at $880,616. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Richard A. Gonzalez sold 87,899 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $71.02, for a total transaction of $6,242,586.98. Following the completion of the transaction, the chairman now directly owns 342,353 shares of the company’s stock, valued at approximately $24,313,910.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 379,890 shares of company stock valued at $27,187,817. Corporate 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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