Park National Corp OH lifted its holdings in shares of AbbVie Inc (NYSE:ABBV) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 305,685 shares of the company’s stock after buying an additional 5,472 shares during the quarter. AbbVie comprises 1.2% of Park National Corp OH’s investment portfolio, making the stock its 23rd biggest position. Park National Corp OH’s holdings in AbbVie were worth $22,229,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in ABBV. Northern Trust Corp increased its position in shares of AbbVie by 1.1% during the 4th quarter. Northern Trust Corp now owns 21,029,665 shares of the company’s stock worth $1,938,725,000 after purchasing an additional 227,408 shares during the last quarter. Geode Capital Management LLC increased its position in shares of AbbVie by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 17,582,527 shares of the company’s stock worth $1,617,957,000 after purchasing an additional 880,288 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of AbbVie by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 15,921,433 shares of the company’s stock worth $1,467,797,000 after purchasing an additional 41,680 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of AbbVie by 4,385.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 15,195,586 shares of the company’s stock worth $165,000 after purchasing an additional 14,856,786 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of AbbVie during the 4th quarter worth about $1,300,469,000. Institutional investors own 68.36% of the company’s stock.
ABBV has been the subject of a number of recent analyst reports. BMO Capital Markets raised AbbVie from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $71.00 to $79.00 in a research report on Sunday, April 28th. Argus downgraded Versum Materials from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. ValuEngine downgraded Yirendai from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Leerink Swann upgraded AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $94.76.
NYSE:ABBV traded down $0.27 during mid-day trading on Tuesday, reaching $67.73. The stock had a trading volume of 7,302,325 shares, compared to its average volume of 7,735,432. The business has a 50-day simple moving average of $73.98. The stock has a market capitalization of $101.32 billion, a PE ratio of 8.56, a PEG ratio of 1.40 and a beta of 0.99. AbbVie Inc has a 12 month low of $65.06 and a 12 month high of $100.23.
AbbVie (NYSE:ABBV) last issued its earnings results on Thursday, April 25th. The company reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.08. AbbVie had a net margin of 16.42% and a negative return on equity of 221.09%. The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.81 billion. During the same quarter last year, the business posted $1.87 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. On average, research analysts anticipate that AbbVie Inc will post 8.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, July 15th will be given a $1.07 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a yield of 6.32%. AbbVie’s dividend payout ratio is currently 54.11%.
In other news, Director Roxanne S. Austin bought 11,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were acquired at an average price of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the acquisition, the director now directly owns 52,114 shares in the company, valued at $3,517,695. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William J. Chase bought 30,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was purchased at an average price of $67.30 per share, for a total transaction of $2,045,920.00. Following the acquisition, the executive vice president now owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by 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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