Piedmont Investment Advisors LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 448,298 shares of the company’s stock after buying an additional 4,763 shares during the period. Piedmont Investment Advisors LLC’s holdings in AbbVie were worth $29,211,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ABBV. First Command Financial Services Inc. boosted its position in shares of AbbVie by 6.8% in the first quarter. First Command Financial Services Inc. now owns 1,565 shares of the company’s stock worth $102,000 after buying an additional 99 shares in the last quarter. Atwood & Palmer Inc. boosted its position 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 in the last quarter. Tradewinds Capital Management LLC boosted its position in shares of AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock worth $148,000 after buying an additional 1,057 shares in the last quarter. American National Bank boosted its position in shares of AbbVie by 13.8% in the first quarter. American National Bank now owns 2,471 shares of the company’s stock worth $161,000 after buying an additional 299 shares in the last quarter. Finally, Cable Hill Partners LLC boosted its position in shares of AbbVie by 7.4% in the first quarter. Cable Hill Partners LLC now owns 2,711 shares of the company’s stock worth $177,000 after buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 67.69% of the company’s stock.
AbbVie Inc. (ABBV) traded up 0.56% during trading on Friday, hitting $70.24. The stock had a trading volume of 1,405,987 shares. AbbVie Inc. has a 12-month low of $55.06 and a 12-month high of $75.04. The company has a market cap of $111.97 billion, a P/E ratio of 17.27 and a beta of 1.50. The company has a 50 day moving average of $71.79 and a 200-day moving average of $67.03.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 28th. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.02. AbbVie had a return on equity of 150.27% and a net margin of 24.77%. The firm had revenue of $6.94 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts predict that AbbVie Inc. will post $5.52 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were paid a $0.64 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $2.56 dividend on an annualized basis and a yield of 3.66%. AbbVie’s dividend payout ratio (DPR) is currently 62.90%.
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ABBV has been the subject of a number of research analyst reports. Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price target for the company in a research report on Monday, May 8th. BMO Capital Markets set a $63.00 price target on AbbVie and gave the company a “hold” rating in a research report on Thursday, April 27th. Credit Suisse Group restated a “hold” rating and issued a $65.00 price target on shares of AbbVie in a research report on Wednesday, June 7th. Zacks Investment Research cut AbbVie from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, Deutsche Bank AG increased their price objective on AbbVie from $64.00 to $65.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Nine research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $76.02.
In other AbbVie news, Chairman Richard A. Gonzalez sold 87,899 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $71.02, for a total value of $6,242,586.98. Following the transaction, the chairman now owns 342,353 shares in the company, valued at $24,313,910.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura J. Schumacher sold 79,800 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $70.00, for a total value of $5,586,000.00. Following the completion of the transaction, the insider now owns 187,625 shares in the company, valued at approximately $13,133,750. The disclosure for this sale can be found here. Insiders sold 490,491 shares of company stock worth $34,684,639 in the last 90 days. Corporate insiders own 0.23% of the company’s stock.
AbbVie Company Profile
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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