Cobblestone Capital Advisors LLC NY cut its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,218 shares of the company’s stock after selling 52 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in AbbVie were worth $942,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. CapWealth Advisors LLC raised its position in shares of AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock worth $103,000 after buying an additional 639 shares in the last quarter. Acropolis Investment Management LLC acquired a new position in shares of AbbVie during the second quarter worth $106,000. Cypress Capital Management LLC WY acquired a new position in shares of AbbVie during the second quarter worth $114,000. Hartford Financial Management Inc. raised its position in shares of AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock worth $115,000 after buying an additional 979 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new position in shares of AbbVie during the second quarter worth $122,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 1.70% during trading on Thursday, hitting $63.13. 3,635,650 shares of the stock traded hands. AbbVie Inc. has a one year low of $45.45 and a one year high of $68.12. The firm has a 50 day moving average price of $64.90 and a 200-day moving average price of $62.24. The company has a market cap of $102.81 billion, a PE ratio of 18.21 and a beta of 1.49.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. The company earned $6.43 billion during the quarter, compared to analyst estimates of $6.20 billion. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter last year, the business posted $1.08 EPS. Analysts anticipate that AbbVie Inc. will post $4.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Wednesday, October 12th. AbbVie’s payout ratio is presently 65.71%.
A number of research analysts have weighed in on the company. Jefferies Group reissued a “buy” rating on shares of AbbVie in a research note on Thursday, August 25th. Vetr raised AbbVie from a “hold” rating to a “buy” rating and set a $68.69 price target on the stock in a research note on Tuesday, June 7th. Deutsche Bank AG reissued a “hold” rating on shares of AbbVie in a research note on Tuesday, June 7th. JPMorgan Chase & Co. lowered AbbVie from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $75.00 to $73.00 in a research note on Thursday, September 8th. They noted that the move was a valuation call. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $67.00 price target on shares of AbbVie in a research note on Wednesday, June 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. AbbVie has a consensus rating of “Buy” and a consensus price target of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total value of $3,250,000.00. Following the completion of the sale, the insider now owns 144,138 shares of the company’s stock, valued at approximately $9,368,970. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.
AbbVie Inc (AbbVie) is a research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Company operates in pharmaceutical products segment. 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 (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, as well as other serious health conditions.
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