Regentatlantic Capital LLC trimmed its position in AbbVie Inc (NYSE:ABBV) by 0.3% during the second quarter, Holdings Channel.com reports. The firm owned 55,330 shares of the company’s stock after selling 161 shares during the period. Regentatlantic Capital LLC’s holdings in AbbVie were worth $4,024,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Trust Co. of Oklahoma raised its stake in AbbVie by 2.9% during the 1st quarter. Trust Co. of Oklahoma now owns 6,710 shares of the company’s stock worth $541,000 after acquiring an additional 190 shares in the last quarter. Retirement Systems of Alabama raised its stake in AbbVie by 13.0% during the 2nd quarter. Retirement Systems of Alabama now owns 1,319,034 shares of the company’s stock worth $95,920,000 after acquiring an additional 151,470 shares in the last quarter. First National Bank of Mount Dora Trust Investment Services raised its stake in AbbVie by 1.7% during the 2nd quarter. First National Bank of Mount Dora Trust Investment Services now owns 58,547 shares of the company’s stock worth $4,257,000 after acquiring an additional 995 shares in the last quarter. First Trust Advisors LP raised its stake in AbbVie by 95.5% during the 1st quarter. First Trust Advisors LP now owns 1,371,977 shares of the company’s stock worth $110,568,000 after acquiring an additional 670,186 shares in the last quarter. Finally, Sowell Financial Services LLC raised its stake in AbbVie by 8.6% during the 4th quarter. Sowell Financial Services LLC now owns 43,756 shares of the company’s stock worth $4,034,000 after acquiring an additional 3,464 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.
Several equities research analysts recently commented on the stock. Leerink Swann upgraded shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Goldman Sachs Group assumed coverage on shares of AbbVie in a research note on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price target on the stock. Piper Jaffray Companies set a $80.00 price target on shares of AbbVie and gave the stock a “hold” rating in a research note on Friday, July 26th. Zacks Investment Research lowered shares of AbbVie from a “hold” rating to a “sell” rating in a research note on Friday, April 5th. Finally, ValuEngine lowered shares of AbbVie from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $92.05.
NYSE ABBV traded down $0.45 during trading on Friday, reaching $65.35. The company’s stock had a trading volume of 9,652,379 shares, compared to its average volume of 10,351,799. The firm has a market capitalization of $96.61 billion, a price-to-earnings ratio of 8.26, a price-to-earnings-growth ratio of 1.59 and a beta of 0.96. AbbVie Inc has a twelve month low of $65.03 and a twelve month high of $100.23. The business’s fifty day moving average is $71.69.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. The company had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 198.18%. AbbVie’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 earnings per share. As a group, equities research analysts forecast that AbbVie Inc will post 8.88 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, July 15th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s payout ratio is 54.11%.
In other news, Director Roxanne S. Austin bought 10,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were acquired at an average price of $66.35 per share, with a total value of $663,500.00. Following the completion of the acquisition, the director now directly owns 62,114 shares in the company, valued at $4,121,263.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roxanne S. Austin bought 11,500 shares of the stock in a transaction dated Wednesday, June 26th. The stock was purchased at an average cost of $67.50 per share, for a total transaction of $776,250.00. Following the acquisition, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 136,900 shares of company stock worth $9,126,370. Insiders own 0.08% of the company’s stock.
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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