Accuvest Global Advisors acquired a new stake in shares of AbbVie Inc. (NYSE:ABBV) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,256 shares of the company’s stock, valued at approximately $473,000.
Several other large investors have also bought and sold shares of the stock. First Command Financial Services Inc. raised 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 during the last quarter. Atwood & Palmer Inc. raised 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 during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of AbbVie during the fourth quarter worth approximately $137,000. Tradewinds Capital Management LLC raised its position in AbbVie by 87.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,269 shares of the company’s stock valued at $148,000 after buying an additional 1,057 shares in the last quarter. Finally, American National Bank raised its position in AbbVie by 13.8% in the first quarter. American National Bank now owns 2,471 shares of the company’s stock valued at $161,000 after buying an additional 299 shares in the last quarter. 67.69% of the stock is owned by institutional investors.
Shares of AbbVie Inc. (NYSE ABBV) opened at 69.96 on Friday. The firm has a market cap of $111.52 billion, a price-to-earnings ratio of 17.21 and a beta of 1.50. The stock’s 50 day moving average price is $71.72 and its 200-day moving average price is $67.10. AbbVie Inc. has a 52-week low of $55.06 and a 52-week high of $75.04.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were given 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 dividend yield of 3.66%. AbbVie’s dividend payout ratio is currently 62.90%.
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ABBV has been the subject of several recent analyst reports. Zacks Investment Research lowered AbbVie from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Vetr upgraded AbbVie from a “buy” rating to a “strong-buy” rating and set a $74.38 price objective for the company in a research note on Monday, May 8th. Deutsche Bank AG increased their target price on AbbVie from $64.00 to $65.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Jefferies Group LLC restated a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Finally, Credit Suisse Group restated a “hold” rating and set a $65.00 target price on shares of AbbVie in a report on Wednesday, June 7th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $76.02.
In other news, Chairman Richard A. Gonzalez sold 193,131 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $71.00, for a total value of $13,712,301.00. Following the sale, the chairman now directly owns 469,623 shares of the company’s stock, valued at approximately $33,343,233. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Carlos Alban sold 45,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $70.00, for a total value of $3,206,000.00. Following the completion of the sale, the executive vice president now directly owns 160,545 shares in the company, valued at $11,238,150. The disclosure for this sale can be found here. Over the last three months, insiders sold 490,491 shares of company stock worth $34,684,639. 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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