DORCHESTER WEALTH MANAGEMENT Co continued to hold its position in shares of AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,600 shares of the company’s stock at the end of the second quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in AbbVie were worth $594,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bender Robert & Associates increased its position in AbbVie by 0.6% in the second quarter. Bender Robert & Associates now owns 61,822 shares of the company’s stock worth $3,827,000 after buying an additional 367 shares during the period. Gilman Hill Asset Management LLC increased its position in AbbVie by 0.9% in the second quarter. Gilman Hill Asset Management LLC now owns 16,072 shares of the company’s stock worth $995,000 after buying an additional 145 shares during the period. Kanaly Trust Co increased its position in AbbVie by 2.9% in the second quarter. Kanaly Trust Co now owns 29,621 shares of the company’s stock worth $1,834,000 after buying an additional 829 shares during the period. Kwmg LLC purchased a new position in AbbVie during the second quarter worth $820,000. Finally, CIBC World Markets Inc. increased its position in AbbVie by 1.0% in the second quarter. CIBC World Markets Inc. now owns 312,406 shares of the company’s stock worth $19,341,000 after buying an additional 2,989 shares during the period. 68.36% of the stock is currently owned by institutional investors.
AbbVie Inc. (NYSE:ABBV) traded up 0.40% during 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 company has a market cap of $102.71 billion, a price-to-earnings ratio of 18.19 and a beta of 1.49. The company has a 50-day moving average price of $64.69 and a 200-day moving average price of $62.29.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm earned $6.43 billion during the quarter, compared to analyst estimates of $6.20 billion. During the same period last year, the business earned $1.08 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. Equities research analysts forecast that AbbVie Inc. will post $4.81 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 annualized dividend and a dividend yield of 3.62%. AbbVie’s payout ratio is 65.71%.
A number of research analysts recently weighed in on the company. Credit Suisse Group AG reaffirmed a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price objective for the company. in a research note on Tuesday, July 26th. Jefferies Group reissued a “buy” rating on shares of AbbVie in a research note on Monday, June 6th. BMO Capital Markets reissued a “market perform” rating and issued a $66.00 price objective on shares of AbbVie in a research note on Friday, July 29th. Finally, Zacks Investment Research raised AbbVie from a “sell” rating to a “hold” rating in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. AbbVie 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 business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 144,138 shares in the company, valued at approximately $9,368,970. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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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