Keystone Financial Planning Inc. continued to hold its stake in shares of AbbVie Inc. (NYSE:ABBV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,076 shares of the company’s stock at the end of the 2nd quarter. Keystone Financial Planning Inc.’s holdings in AbbVie were worth $368,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its stake in shares of AbbVie by 2.4% in the 1st quarter. State Street Corp now owns 72,969,530 shares of the company’s stock valued at $4,754,696,000 after acquiring an additional 1,696,042 shares in the last quarter. Legal & General Group Plc raised its stake in shares of AbbVie by 4.1% in the 1st quarter. Legal & General Group Plc now owns 7,918,192 shares of the company’s stock valued at $515,956,000 after acquiring an additional 312,055 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of AbbVie by 1.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,226,116 shares of the company’s stock valued at $378,946,000 after acquiring an additional 89,442 shares in the last quarter. Aristotle Capital Management LLC raised its stake in shares of AbbVie by 3.5% in the 1st quarter. Aristotle Capital Management LLC now owns 4,526,623 shares of the company’s stock valued at $294,954,000 after acquiring an additional 154,719 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of AbbVie by 6.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,151,990 shares of the company’s stock valued at $205,384,000 after acquiring an additional 193,410 shares in the last quarter. Institutional investors and hedge funds own 68.49% of the company’s stock.
In other AbbVie news, Chairman Richard A. Gonzalez sold 87,899 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $71.02, for a total value of $6,242,586.98. Following the sale, the chairman now owns 342,353 shares of the company’s stock, valued at approximately $24,313,910.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Richard A. Gonzalez sold 193,131 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $71.00, for a total value of $13,712,301.00. Following the completion of the sale, the chairman now directly owns 469,623 shares in the company, valued at approximately $33,343,233. The disclosure for this sale can be found here. In the last ninety days, insiders sold 380,190 shares of company stock worth $27,583,262. Company insiders own 0.23% of the company’s stock.
Several research analysts have commented on ABBV shares. BidaskClub raised AbbVie from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Evercore ISI reaffirmed an “outperform” rating and issued a $100.00 price target (up from $95.00) on shares of AbbVie in a research report on Saturday, September 30th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $74.00 price target (up from $65.00) on shares of AbbVie in a research report on Thursday, July 20th. Barclays PLC reaffirmed a “hold” rating and issued a $68.00 price target on shares of AbbVie in a research report on Thursday, September 28th. Finally, Cowen and Company raised AbbVie from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $91.17 to $105.00 in a research report on Wednesday, October 11th. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $93.68.
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AbbVie Inc. (NYSE ABBV) opened at 90.25 on Wednesday. The firm has a market cap of $143.87 billion, a price-to-earnings ratio of 22.20 and a beta of 1.51. AbbVie Inc. has a 1-year low of $55.85 and a 1-year high of $98.26. The firm has a 50-day moving average price of $90.02 and a 200-day moving average price of $75.30.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, October 27th. The company reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. On average, analysts expect that AbbVie Inc. will post $5.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Friday, January 12th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Thursday, January 11th. This is an increase from AbbVie’s previous quarterly dividend of $0.64. AbbVie’s dividend payout ratio (DPR) is currently 62.29%.
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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