Westbourne Investment Advisors Inc. lowered its stake in AbbVie Inc. (NYSE:ABBV) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,075 shares of the company’s stock after selling 1,833 shares during the period. Westbourne Investment Advisors Inc.’s holdings in AbbVie were worth $1,166,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. First Command Financial Services Inc. increased its stake in AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock valued at $102,000 after buying an additional 99 shares in the last quarter. Acropolis Investment Management LLC bought a new stake in AbbVie during the second quarter valued at about $106,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in AbbVie during the first quarter valued at about $108,000. Patriot Financial Group Insurance Agency LLC bought a new stake in AbbVie during the fourth quarter valued at about $137,000. Finally, Atwood & Palmer Inc. increased its stake in shares of AbbVie by 1,333.3% in the first quarter. Atwood & Palmer Inc. now owns 2,150 shares of the company’s stock worth $140,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 67.89% of the company’s stock.
Shares of AbbVie Inc. (NYSE ABBV) traded up 0.27% on Friday, hitting $70.63. The stock had a trading volume of 3,248,300 shares. The stock has a market cap of $112.59 billion, a PE ratio of 17.37 and a beta of 1.50. The company has a 50 day moving average price of $72.05 and a 200-day moving average price of $66.76. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 28th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.02. The firm had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.93 billion. AbbVie had a net margin of 24.77% and a return on equity of 150.27%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. On average, equities research analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th will be given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Wednesday, July 12th. AbbVie’s dividend payout ratio is 62.90%.
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A number of equities research analysts recently issued reports on ABBV shares. Vetr downgraded AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 price objective on the stock. in a research report on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating on shares of AbbVie in a research report on Friday, May 26th. Societe Generale upgraded AbbVie from a “hold” rating to a “buy” rating in a research report on Thursday, June 22nd. BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $85.00 price objective on shares of AbbVie in a research report on Thursday, August 3rd. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $74.66.
In other news, EVP Carlos Alban sold 45,800 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total transaction of $3,206,000.00. Following the sale, the executive vice president now directly owns 160,545 shares in the company, valued at approximately $11,238,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William J. Chase sold 38,300 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $65.35, for a total transaction of $2,502,905.00. Following the sale, the chief financial officer now owns 209,043 shares in the company, valued at $13,660,960.05. The disclosure for this sale can be found here. Insiders have sold a total of 600,026 shares of company stock worth $41,852,724 over the last 90 days. Corporate insiders own 0.23% of the company’s stock.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions.
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