AbbVie Inc. (ABBV) Shares Bought by Culbertson A N & Co. Inc.

Culbertson A N & Co. Inc. boosted its stake in shares of AbbVie Inc. (NYSE:ABBV) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,090 shares of the company’s stock after buying an additional 697 shares during the period. AbbVie comprises approximately 2.0% of Culbertson A N & Co. Inc.’s holdings, making the stock its 18th largest position. Culbertson A N & Co. Inc.’s holdings in AbbVie were worth $6,242,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ABBV. State Street Corp boosted its stake in shares of AbbVie by 2.4% in the first quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after buying an additional 1,696,042 shares in the last quarter. Norges Bank acquired a new stake in AbbVie during the fourth quarter worth about $823,984,000. Glenview Capital Management LLC acquired a new stake in AbbVie during the fourth quarter worth about $570,905,000. Legal & General Group Plc boosted its stake in AbbVie by 4.1% in the first quarter. Legal & General Group Plc now owns 7,918,192 shares of the company’s stock worth $515,956,000 after buying an additional 312,055 shares during the last quarter. Finally, Orbis Allan Gray Ltd boosted its stake in AbbVie by 11.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 5,485,407 shares of the company’s stock worth $343,496,000 after buying an additional 579,378 shares during the last quarter. Institutional investors own 67.69% of the company’s stock.

AbbVie Inc. (NYSE ABBV) traded up 0.16% on Friday, reaching $69.96. The company’s stock had a trading volume of 4,016,367 shares. The firm has a market cap of $111.52 billion, a price-to-earnings ratio of 17.21 and a beta of 1.50. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $75.04. The firm has a 50 day moving average of $71.72 and a 200 day moving average of $67.10.

AbbVie (NYSE:ABBV) last issued its quarterly 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 analysts’ expectations of $6.93 billion. During the same quarter in the prior year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts anticipate that AbbVie Inc. will post $5.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Friday, July 14th were given a dividend of $0.64 per share. 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 presently 62.90%.

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Several equities research analysts have recently commented on the company. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $76.28 price objective for the company. in a report on Thursday, July 20th. Leerink Swann reissued a “market perform” rating on shares of AbbVie in a report on Thursday, June 22nd. Jefferies Group LLC reissued a “buy” rating and issued a $94.00 price objective (up previously from $92.00) on shares of AbbVie in a report on Monday, July 17th. Deutsche Bank AG reissued a “hold” rating and issued a $66.00 price objective (up previously from $65.00) on shares of AbbVie in a report on Monday, July 17th. Finally, Credit Suisse Group reissued a “neutral” rating and issued a $74.00 price objective (up previously from $65.00) on shares of AbbVie in a report on Thursday, July 20th. 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 stock. AbbVie has an average rating of “Buy” and a consensus target price of $76.02.

In other news, Chairman Richard A. Gonzalez sold 193,131 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $71.00, for a total transaction of $13,712,301.00. Following the transaction, the chairman now 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 Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura J. Schumacher sold 79,800 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 187,625 shares in the company, valued at approximately $13,133,750. The disclosure for this sale can be found here. Insiders have sold a total of 490,491 shares of company stock worth $34,684,639 in the last ninety days. 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.

Institutional Ownership by Quarter for AbbVie (NYSE:ABBV)

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