Financial Engines Advisors L.L.C. boosted its position in AbbVie Inc. (NYSE:ABBV) by 9.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 242,367 shares of the company’s stock after purchasing an additional 21,039 shares during the quarter. AbbVie makes up 0.8% of Financial Engines Advisors L.L.C.’s portfolio, making the stock its 11th biggest position. Financial Engines Advisors L.L.C.’s holdings in AbbVie were worth $17,574,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. WealthTrust Axiom LLC raised its holdings in AbbVie by 0.3% in the second quarter. WealthTrust Axiom LLC now owns 4,307 shares of the company’s stock worth $312,000 after purchasing an additional 15 shares in the last quarter. Abner Herrman & Brock LLC raised its holdings in AbbVie by 0.3% in the second quarter. Abner Herrman & Brock LLC now owns 6,293 shares of the company’s stock worth $456,000 after purchasing an additional 18 shares in the last quarter. Bollard Group LLC raised its holdings in AbbVie by 0.5% in the second quarter. Bollard Group LLC now owns 3,764 shares of the company’s stock worth $273,000 after purchasing an additional 19 shares in the last quarter. St. Louis Trust Co raised its holdings in AbbVie by 0.7% in the second quarter. St. Louis Trust Co now owns 3,411 shares of the company’s stock worth $248,000 after purchasing an additional 23 shares in the last quarter. Finally, Stratford Consulting LLC raised its holdings 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 purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 68.49% of the company’s stock.
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A number of research firms have issued reports on ABBV. Zacks Investment Research downgraded AbbVie from a “buy” rating to a “hold” rating in a report on Friday, October 20th. BMO Capital Markets set a $66.00 price objective on AbbVie and gave the stock a “hold” rating in a report on Friday. BidaskClub downgraded AbbVie from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 25th. UBS AG reiterated a “neutral” rating on shares of AbbVie in a report on Friday, October 13th. Finally, Barclays PLC increased their price objective on AbbVie to $90.00 and gave the stock an “equal weight” rating in a report on Friday, October 13th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $93.63.
AbbVie Inc. (NYSE:ABBV) opened at 91.93 on Monday. The stock has a market capitalization of $146.55 billion, a PE ratio of 22.61 and a beta of 1.51. The firm has a 50-day moving average price of $89.78 and a 200 day moving average price of $74.85. AbbVie Inc. has a 12 month low of $55.06 and a 12 month high of $98.26.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.02. The business had revenue of $7 billion for the quarter, compared to analyst estimates of $7 billion. AbbVie had a return on equity of 164.66% and a net margin of 24.38%. The company’s revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 earnings per share. Equities analysts anticipate that AbbVie Inc. will post $5.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, October 13th will be issued a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, October 12th. AbbVie’s dividend payout ratio is presently 62.29%.
In other news, Chairman Richard A. Gonzalez sold 193,131 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 469,623 shares of the company’s stock, valued at $33,343,233. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard A. Gonzalez sold 65,861 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $71.00, for a total value of $4,676,131.00. Following the completion of the transaction, the chief executive officer now directly owns 342,353 shares in the company, valued at $24,307,063. The disclosure for this sale can be found here. Insiders sold 361,890 shares of company stock worth $25,926,197 over the last three months. 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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