Gilman Hill Asset Management LLC boosted its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,072 shares of the company’s stock after buying an additional 145 shares during the period. Gilman Hill Asset Management LLC’s holdings in AbbVie were worth $995,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BB&T Securities LLC raised its position in shares of AbbVie by 46.4% in the first quarter. BB&T Securities LLC now owns 1,379,549 shares of the company’s stock valued at $78,799,000 after buying an additional 436,945 shares during the period. AXA raised its position in shares of AbbVie by 74.3% in the first quarter. AXA now owns 3,061,184 shares of the company’s stock valued at $174,855,000 after buying an additional 1,304,557 shares during the period. Orbis Allan Gray Ltd bought a new position in shares of AbbVie during the first quarter valued at about $281,766,000. Adage Capital Partners GP L.L.C. raised its position in shares of AbbVie by 15.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,634,632 shares of the company’s stock valued at $150,490,000 after buying an additional 348,015 shares during the period. Finally, LPL Financial LLC raised its position in shares of AbbVie by 81.1% in the first quarter. LPL Financial LLC now owns 1,005,738 shares of the company’s stock valued at $58,855,000 after buying an additional 450,370 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.40% during trading on Friday, hitting $63.07. 7,325,429 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $64.69 and a 200-day moving average price of $62.29. The stock has a market cap of $102.71 billion, a P/E ratio of 18.19 and a beta of 1.49. AbbVie Inc. has a one year low of $45.45 and a one year high of $68.12.
AbbVie (NYSE:ABBV) last posted its quarterly earnings results on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The business earned $6.43 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the previous year, the business posted $1.08 EPS. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a $0.57 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $2.28 annualized dividend and a dividend yield of 3.62%. AbbVie’s dividend payout ratio is currently 65.71%.
Several analysts have issued reports on the stock. Jefferies Group restated a “buy” rating on shares of AbbVie in a research report on Thursday, August 25th. Vetr upgraded shares of AbbVie from a “hold” rating to a “buy” rating and set a $68.69 price target for the company in a research report on Tuesday, June 7th. Deutsche Bank AG restated a “hold” rating on shares of AbbVie in a research report on Tuesday, June 7th. JPMorgan Chase & Co. lowered shares of AbbVie from an “overweight” rating to a “neutral” rating and cut their price target for the company from $75.00 to $73.00 in a research report on Thursday, September 8th. They noted that the move was a valuation call. Finally, Credit Suisse Group AG restated an “outperform” rating and set a $67.00 price target on shares of AbbVie in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. AbbVie has an average rating of “Buy” and a consensus price target of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $9,368,970. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by 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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