CENTRAL TRUST Co lowered its position in shares of AbbVie Inc. (NYSE:ABBV) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,964 shares of the company’s stock after selling 2 shares during the period. AbbVie accounts for about 1.1% of CENTRAL TRUST Co’s portfolio, making the stock its 21st largest position. CENTRAL TRUST Co’s holdings in AbbVie were worth $14,485,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ABBV. Orbis Allan Gray Ltd bought a new stake in AbbVie during the first quarter worth about $281,766,000. Ameriprise Financial Inc. increased its stake in AbbVie by 52.4% in the second quarter. Ameriprise Financial Inc. now owns 10,364,784 shares of the company’s stock worth $641,739,000 after buying an additional 3,562,980 shares during the period. Bank of Montreal Can bought a new stake in AbbVie during the second quarter worth about $93,942,000. ING Groep NV bought a new stake in AbbVie during the second quarter worth about $83,166,000. Finally, AXA increased its stake in AbbVie by 74.3% in the first quarter. AXA now owns 3,061,184 shares of the company’s stock worth $174,855,000 after buying an additional 1,304,557 shares during the period. 68.36% of the stock is currently owned by institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.44% during midday trading on Thursday, hitting $63.11. 1,410,420 shares of the stock were exchanged. The firm’s 50-day moving average is $64.35 and its 200 day moving average is $62.49. AbbVie Inc. has a 52-week low of $45.45 and a 52-week high of $68.12. The firm has a market cap of $102.78 billion, a PE ratio of 18.20 and a beta of 1.50.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 29th. The company reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The firm earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue was up 17.8% compared to the same quarter last year. On average, analysts forecast that AbbVie Inc. will post $4.81 earnings per share for the current year.
The company 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Wednesday, October 12th. AbbVie’s dividend payout ratio (DPR) is 65.71%.
Several equities analysts have recently weighed in on ABBV shares. BMO Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $70.00 to $66.00 in a research note on Friday, June 10th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $78.00 target price on shares of AbbVie in a research note on Tuesday, September 27th. Vetr downgraded shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.75 target price for the company. in a research note on Wednesday, June 29th. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Finally, Jefferies Group reiterated a “buy” rating and issued a $90.00 target price on shares of AbbVie in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of AbbVie 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 completion of the sale, the insider now owns 144,138 shares of the company’s stock, valued at $9,368,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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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