Gulf International Bank UK Ltd cut its holdings in shares of AbbVie Inc (NYSE:ABBV) by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 354,302 shares of the company’s stock after selling 1,622 shares during the period. Gulf International Bank UK Ltd’s holdings in AbbVie were worth $25,764,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Weaver Consulting Group bought a new stake in shares of AbbVie in the 1st quarter worth $25,000. Prime Capital Investment Advisors LLC bought a new position in AbbVie during the fourth quarter valued at approximately $27,000. Penserra Capital Management LLC bought a new position in AbbVie during the fourth quarter valued at approximately $32,000. Lowe Wealth Advisors LLC grew its position in AbbVie by 206.7% during the second quarter. Lowe Wealth Advisors LLC now owns 460 shares of the company’s stock valued at $33,000 after acquiring an additional 310 shares during the last quarter. Finally, Larson Financial Group LLC bought a new position in AbbVie during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 68.36% of the company’s stock.
In other AbbVie news, Director Roxanne S. Austin purchased 11,500 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average price of $67.50 per share, with a total value of $776,250.00. Following the completion of the purchase, the director now directly owns 52,114 shares of the company’s stock, valued at approximately $3,517,695. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William J. Chase purchased 30,400 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was acquired at an average cost of $67.30 per share, with a total value of $2,045,920.00. Following the purchase, the executive vice president now directly owns 169,552 shares of the company’s stock, valued at $11,410,849.60. The disclosure for this purchase can be found here. Company insiders own 0.08% of the company’s stock.
ABBV has been the topic of a number of recent research reports. Wolfe Research upgraded shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. ValuEngine cut shares of Yirendai from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 26th. Goldman Sachs Group set a $27.00 price target on shares of Melco Resorts & Entertainment and gave the company a “buy” rating in a research report on Tuesday, May 28th. Svb Leerink upgraded shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target on the stock in a research report on Wednesday, June 26th. Finally, Credit Suisse Group set a $123.00 price target on shares of Hershey and gave the company a “hold” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $94.76.
Shares of NYSE:ABBV traded down $0.13 during trading on Wednesday, reaching $67.60. 3,891,935 shares of the company traded hands, compared to its average volume of 17,316,618. The stock has a market capitalization of $100.53 billion, a price-to-earnings ratio of 8.55, a price-to-earnings-growth ratio of 1.39 and a beta of 0.98. AbbVie Inc has a 52-week low of $65.06 and a 52-week high of $100.23. The firm’s fifty day simple moving average is $73.83.
AbbVie (NYSE:ABBV) last released its quarterly earnings data 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 negative return on equity of 221.09% and a net margin of 16.42%. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.81 billion. During the same quarter in the prior year, the firm posted $1.87 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts expect that AbbVie Inc will post 8.82 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date is Friday, July 12th. AbbVie’s payout ratio is 54.11%.
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.
See Also: What is diluted earnings per share (Diluted EPS)?
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc (NYSE:ABBV).
Receive News & Ratings for AbbVie Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie and related companies with MarketBeat.com's FREE daily email newsletter.