WP Advisors LLC grew its position in shares of AbbVie Inc (NYSE:ABBV) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,235 shares of the company’s stock after acquiring an additional 1,981 shares during the period. AbbVie comprises 2.8% of WP Advisors LLC’s portfolio, making the stock its 11th largest position. WP Advisors LLC’s holdings in AbbVie were worth $2,490,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Roman Butler Fullerton & Co. raised its stake in shares of AbbVie by 11.9% during the second quarter. Roman Butler Fullerton & Co. now owns 4,275 shares of the company’s stock valued at $311,000 after acquiring an additional 454 shares during the last quarter. Hamlin Capital Management LLC raised its stake in AbbVie by 14.4% in the second quarter. Hamlin Capital Management LLC now owns 808,123 shares of the company’s stock worth $58,767,000 after buying an additional 101,883 shares in the last quarter. First National Trust Co raised its stake in AbbVie by 0.3% in the second quarter. First National Trust Co now owns 137,651 shares of the company’s stock worth $10,010,000 after buying an additional 440 shares in the last quarter. Clean Yield Group raised its stake in AbbVie by 3.1% in the second quarter. Clean Yield Group now owns 11,890 shares of the company’s stock worth $865,000 after buying an additional 357 shares in the last quarter. Finally, AE Wealth Management LLC raised its stake in AbbVie by 130.1% in the second quarter. AE Wealth Management LLC now owns 88,567 shares of the company’s stock worth $6,441,000 after buying an additional 50,072 shares in the last quarter. 68.52% of the stock is owned by hedge funds and other institutional investors.
ABBV has been the subject of a number of research reports. Leerink Swann raised shares of AbbVie to a “buy” rating in a research note on Tuesday, July 2nd. Wolfe Research raised shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research note on Thursday, June 27th. Goldman Sachs Group initiated coverage on shares of AbbVie in a research note on Tuesday, May 28th. They issued a “neutral” rating and a $84.00 price target for the company. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price target for the company in a research note on Wednesday, June 26th. Finally, Citigroup reissued a “hold” rating on shares of AbbVie in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $92.05.
ABBV traded down $0.45 during midday 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 company 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 1 year low of $65.03 and a 1 year high of $100.23. The company’s 50-day simple moving average is $71.69.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 26th. The company reported $2.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.05. The business had revenue of $8.26 billion for the quarter, compared to analysts’ expectations of $8.09 billion. AbbVie had a net margin of 12.62% and a negative return on equity of 198.18%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.00 earnings per share. On average, equities analysts predict 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. Shareholders of record on Monday, July 15th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend is Friday, July 12th. AbbVie’s dividend payout ratio (DPR) is presently 54.11%.
In other AbbVie news, EVP William J. Chase acquired 30,400 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were acquired at an average price of $67.30 per share, for a total transaction of $2,045,920.00. Following the completion of the acquisition, the executive vice president now owns 169,552 shares in the company, valued at $11,410,849.60. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roxanne S. Austin acquired 10,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was acquired at an average price of $66.35 per share, for a total transaction of $663,500.00. Following the acquisition, the director now 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. In the last 90 days, insiders acquired 136,900 shares of company stock worth $9,126,370. Corporate insiders own 0.08% of the company’s stock.
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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