Conestoga Capital Advisors LLC reduced its stake in AbbVie Inc. (NYSE:ABBV) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,935 shares of the company’s stock after selling 1,005 shares during the period. Conestoga Capital Advisors LLC’s holdings in AbbVie were worth $491,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Orbis Allan Gray Ltd acquired a new stake in shares of AbbVie during the first quarter valued at about $281,766,000. Woodford Investment Management LLP increased its stake in shares of AbbVie by 25.8% in the first quarter. Woodford Investment Management LLP now owns 11,063,300 shares of the company’s stock valued at $631,936,000 after buying an additional 2,269,300 shares in the last quarter. AXA increased its stake 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 in the last quarter. Renaissance Technologies LLC increased its stake in shares of AbbVie by 168.2% in the first quarter. Renaissance Technologies LLC now owns 1,563,056 shares of the company’s stock valued at $89,282,000 after buying an additional 980,300 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of AbbVie during the first quarter valued at about $50,875,000. 68.36% of the stock is owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.40% during mid-day trading on Friday, hitting $63.07. The stock had a trading volume of 7,325,429 shares. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12. The stock has a market capitalization of $102.71 billion, a P/E ratio of 18.19 and a beta of 1.49. The stock has a 50 day moving average of $64.69 and a 200-day moving average of $62.29.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.06. The company earned $6.43 billion during the quarter, compared to analysts’ expectations of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. AbbVie’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. On average, equities research analysts predict that AbbVie Inc. will post $4.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a dividend of $0.57 per share. The ex-dividend date is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.62%. AbbVie’s payout ratio is presently 65.71%.
A number of equities research analysts have recently weighed in on ABBV shares. JPMorgan Chase & Co. downgraded AbbVie from an “overweight” rating to a “neutral” rating and cut 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. Morgan Stanley downgraded AbbVie from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $73.00 to $65.00 in a research note on Wednesday, June 8th. Jefferies Group reaffirmed 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 $67.14 price target for the company in a research note on Monday, July 18th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $68.00 price target on shares of AbbVie in a research note on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the sale, the insider now owns 144,138 shares in the company, valued at $9,368,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
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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