Capital Advisors Inc. OK grew its position in shares of AbbVie Inc (NYSE:ABBV) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 290,860 shares of the company’s stock after buying an additional 5,411 shares during the period. AbbVie comprises 1.1% of Capital Advisors Inc. OK’s portfolio, making the stock its 25th largest position. Capital Advisors Inc. OK’s holdings in AbbVie were worth $26,925,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in AbbVie by 17.3% during the 2nd quarter. Vanguard Group Inc. now owns 147,386,808 shares of the company’s stock worth $14,470,438,000 after buying an additional 21,786,239 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of AbbVie by 21.7% in the 2nd quarter. BlackRock Inc. now owns 123,356,424 shares of the company’s stock worth $12,111,133,000 after purchasing an additional 21,974,440 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of AbbVie by 5.5% in the 1st quarter. Geode Capital Management LLC now owns 25,773,505 shares of the company’s stock worth $1,960,934,000 after purchasing an additional 1,344,728 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of AbbVie by 46.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 22,124,489 shares of the company’s stock worth $2,172,182,000 after purchasing an additional 7,007,887 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of AbbVie by 15.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,387,563 shares of the company’s stock worth $2,099,832,000 after purchasing an additional 2,797,448 shares during the last quarter. 68.23% of the stock is currently owned by institutional investors.
ABBV has been the topic of several recent research reports. Argus raised AbbVie from a “hold” rating to a “buy” rating and raised their price target for the stock from $91.40 to $115.00 in a report on Tuesday, June 2nd. Mizuho raised their price target on AbbVie from $110.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. UBS Group raised their price target on AbbVie from $96.00 to $109.00 in a report on Wednesday, June 17th. ValuEngine downgraded AbbVie from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 27th. Finally, Evercore ISI began coverage on AbbVie in a research report on Wednesday, June 10th. They issued a “buy” rating and a $111.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the stock. AbbVie presently has an average rating of “Buy” and an average target price of $108.33.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 31st. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.20 by $0.14. The company had revenue of $10.43 billion for the quarter, compared to analysts’ expectations of $10.14 billion. AbbVie had a negative return on equity of 628.57% and a net margin of 19.20%. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period last year, the firm earned $2.26 EPS. Analysts forecast that AbbVie Inc will post 10.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 16th. Investors of record on Thursday, October 15th will be issued a $1.18 dividend. This represents a $4.72 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date is Wednesday, October 14th. AbbVie’s payout ratio is 52.80%.
In related news, Vice Chairman Carlos Alban sold 53,325 shares of AbbVie stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $100.00, for a total value of $5,332,500.00. Following the transaction, the insider now directly owns 137,899 shares in the company, valued at approximately $13,789,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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