Webster Bank N. A. increased its position in shares of AbbVie Inc. (NYSE:ABBV) by 410.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,413 shares of the company’s stock after buying an additional 46,972 shares during the period. Webster Bank N. A.’s holdings in AbbVie were worth $3,806,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bollard Group LLC increased its position in AbbVie by 0.5% in the first quarter. Bollard Group LLC now owns 3,745 shares of the company’s stock worth $244,000 after buying an additional 20 shares during the last quarter. TRUE Private Wealth Advisors increased its position in AbbVie by 0.5% in the first quarter. TRUE Private Wealth Advisors now owns 4,787 shares of the company’s stock worth $313,000 after buying an additional 24 shares during the last quarter. Country Club Trust Company n.a. increased its position in AbbVie by 0.6% in the first quarter. Country Club Trust Company n.a. now owns 4,434 shares of the company’s stock worth $289,000 after buying an additional 26 shares during the last quarter. Stratford Consulting LLC increased its position in AbbVie by 0.7% in the first quarter. Stratford Consulting LLC now owns 3,959 shares of the company’s stock worth $258,000 after buying an additional 29 shares during the last quarter. Finally, K.J. Harrison & Partners Inc increased its position in AbbVie by 0.6% in the first quarter. K.J. Harrison & Partners Inc now owns 5,031 shares of the company’s stock worth $328,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 67.69% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.16% during trading on Friday, hitting $69.96. 4,016,367 shares of the stock traded hands. The company has a market cap of $111.52 billion, a PE ratio of 17.21 and a beta of 1.50. The company has a 50 day moving average of $71.72 and a 200-day moving average of $67.10. AbbVie Inc. has a 1-year low of $55.06 and a 1-year high of $75.04.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Friday, July 14th were issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend was Wednesday, July 12th. AbbVie’s dividend payout ratio is 62.90%.
A number of research firms have recently issued reports on ABBV. Piper Jaffray Companies restated a “buy” rating and issued a $85.00 price target on shares of AbbVie in a research report on Thursday, August 3rd. BidaskClub downgraded shares of AbbVie from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $76.28 price objective on the stock in a research report on Wednesday, July 26th. Cowen and Company set a $70.00 price objective on shares of AbbVie and gave the company a “hold” rating in a research report on Sunday, July 30th. Finally, Evercore ISI assumed coverage on shares of AbbVie in a research report on Wednesday. They issued an “outperform” rating and a $95.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. AbbVie has an average rating of “Buy” and a consensus price target of $76.02.
In other AbbVie news, 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 in the company, valued at $24,307,063. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Laura J. Schumacher sold 79,800 shares of AbbVie 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 have sold a total of 490,491 shares of company stock worth $34,684,639 in the last quarter. Company 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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