AE Wealth Management LLC boosted its position in AbbVie Inc. (NYSE:ABBV) by 48.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,086 shares of the company’s stock after buying an additional 13,334 shares during the period. AE Wealth Management LLC’s holdings in AbbVie were worth $2,677,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. 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 during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of AbbVie during the fourth quarter worth about $137,000. 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 during 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 during the last quarter. Finally, 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 during the last quarter. 67.69% of the stock is currently owned by institutional investors.
AbbVie Inc. (ABBV) opened at 69.96 on Friday. AbbVie Inc. has a 52 week low of $55.06 and a 52 week high of $75.04. The stock has a market cap of $111.52 billion, a P/E ratio of 17.21 and a beta of 1.50. The firm has a 50-day moving average price of $71.72 and a 200-day moving average price of $67.10.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were issued a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Wednesday, July 12th. AbbVie’s payout ratio is 62.90%.
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ABBV has been the topic of a number of recent research reports. Vetr cut AbbVie from a “strong-buy” rating to a “buy” rating and set a $71.84 target price on the stock. in a report on Monday, May 15th. Jefferies Group LLC restated a “buy” rating on shares of AbbVie in a report on Friday, May 26th. Societe Generale upgraded AbbVie from a “hold” rating to a “buy” rating in a report on Thursday, June 22nd. BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $85.00 price target on shares of AbbVie in a report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $76.02.
In other AbbVie news, Director Edward J. Rapp purchased 4,000 shares of AbbVie stock in a transaction that occurred on Monday, July 31st. The stock was acquired at an average price of $70.45 per share, for a total transaction of $281,800.00. Following the completion of the acquisition, the director now owns 15,498 shares of the company’s stock, valued at approximately $1,091,834.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard A. Gonzalez sold 65,861 shares of AbbVie stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $71.00, for a total value of $4,676,131.00. Following the transaction, the chief executive officer now owns 342,353 shares of the company’s stock, valued at approximately $24,307,063. The disclosure for this sale can be found here. Insiders sold a total of 490,491 shares of company stock valued at $34,684,639 in the last 90 days. 0.23% of the stock is owned by corporate insiders.
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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