Murphy Capital Management Inc. lessened its stake in AbbVie Inc (NYSE:ABBV) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,806 shares of the company’s stock after selling 285 shares during the quarter. Murphy Capital Management Inc.’s holdings in AbbVie were worth $494,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Van Leeuwen & Company LLC raised its holdings in shares of AbbVie by 4.1% during the fourth quarter. Van Leeuwen & Company LLC now owns 3,296 shares of the company’s stock valued at $304,000 after acquiring an additional 130 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its holdings in shares of AbbVie by 0.3% during the second quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 44,147 shares of the company’s stock valued at $3,210,000 after acquiring an additional 147 shares during the last quarter. Marathon Capital Management raised its holdings in shares of AbbVie by 6.6% during the fourth quarter. Marathon Capital Management now owns 2,516 shares of the company’s stock valued at $231,000 after acquiring an additional 155 shares during the last quarter. Graves Light Private Wealth Management Inc. raised its holdings in shares of AbbVie by 2.2% during the first quarter. Graves Light Private Wealth Management Inc. now owns 7,181 shares of the company’s stock valued at $579,000 after acquiring an additional 155 shares during the last quarter. Finally, Bangor Savings Bank raised its holdings in shares of AbbVie by 2.3% during the second quarter. Bangor Savings Bank now owns 7,470 shares of the company’s stock valued at $544,000 after acquiring an additional 171 shares during the last quarter. 68.52% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on ABBV. ValuEngine cut AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, June 26th. Leerink Swann upgraded AbbVie to a “buy” rating in a research report on Tuesday, July 2nd. Wolfe Research upgraded AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Svb Leerink upgraded AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a research report on Wednesday, June 26th. Finally, Credit Suisse Group set a $78.00 price target on AbbVie and gave the company a “sell” rating in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. AbbVie currently has an average rating of “Hold” and an average price target of $92.05.
In other AbbVie news, Director Roxanne S. Austin acquired 11,500 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average cost of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the transaction, the director now owns 52,114 shares of the company’s stock, valued at approximately $3,517,695. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Roxanne S. Austin acquired 10,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was acquired at an average price of $66.35 per share, with a total value of $663,500.00. Following the completion of the transaction, the director now directly owns 62,114 shares of the company’s stock, valued at approximately $4,121,263.90. The disclosure for this purchase can be found here. Insiders purchased 136,900 shares of company stock valued at $9,126,370 over the last quarter. 0.08% of the stock is currently owned by company insiders.
Shares of ABBV stock traded down $0.45 during trading hours on Friday, reaching $65.35. The company had a trading volume of 9,652,379 shares, compared to its average volume of 10,351,799. The stock has a fifty day simple moving average of $71.69. The firm has a market cap of $96.61 billion, a P/E ratio of 8.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96. AbbVie Inc has a 12-month low of $65.03 and a 12-month high of $100.23.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 26th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a negative return on equity of 198.18% and a net margin of 12.62%. The business’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 earnings per share. On average, sell-side analysts anticipate that AbbVie Inc will post 8.88 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Monday, July 15th will be given a $1.07 dividend. The ex-dividend date is Friday, July 12th. This represents a $4.28 annualized dividend and a yield of 6.55%. AbbVie’s payout ratio is 54.11%.
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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