Oppenheimer & Co. Inc. reduced its stake in shares of AbbVie Inc. (NYSE:ABBV) by 6.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 220,761 shares of the company’s stock after selling 14,865 shares during the period. Oppenheimer & Co. Inc.’s holdings in AbbVie were worth $13,667,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in ABBV. Acropolis Investment Management LLC acquired a new position in AbbVie during the second quarter valued at about $106,000. CapWealth Advisors LLC raised its stake in AbbVie by 55.2% in the first quarter. CapWealth Advisors LLC now owns 1,797 shares of the company’s stock valued at $103,000 after buying an additional 639 shares during the last quarter. Cypress Capital Management LLC WY purchased a new stake in AbbVie during the second quarter valued at $114,000. Hartford Financial Management Inc. raised its stake in AbbVie by 100.0% in the second quarter. Hartford Financial Management Inc. now owns 1,958 shares of the company’s stock valued at $115,000 after buying an additional 979 shares during the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in AbbVie during the second quarter valued at $122,000. Institutional investors and hedge funds own 68.36% of the company’s stock.
Shares of AbbVie Inc. (NYSE:ABBV) traded down 0.44% during trading on Thursday, hitting $63.11. 1,410,420 shares of the stock were exchanged. The firm’s 50 day moving average price is $64.35 and its 200-day moving average price is $62.49. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12. The stock has a market cap of $102.78 billion, a P/E ratio of 18.20 and a beta of 1.50.
AbbVie (NYSE:ABBV) last issued its earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.06. The business had revenue of $6.43 billion for 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%. AbbVie’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 earnings per share. On average, analysts predict that AbbVie Inc. will post $4.81 EPS 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 paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio is presently 65.71%.
Several research firms have recently weighed in on ABBV. Barclays PLC reaffirmed an “equal weight” rating and set a $68.00 price objective on shares of AbbVie in a report on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating on shares of AbbVie in a report on Thursday, August 4th. Argus reaffirmed a “buy” rating and set a $85.00 price objective on shares of AbbVie in a report on Monday, August 8th. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $67.14 price objective for the company. in a report on Tuesday, July 12th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $78.00 price objective on shares of AbbVie in a report on Thursday, September 8th. 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 assigned a strong buy rating to the stock. AbbVie currently 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 the stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $65.00, for a total transaction of $3,250,000.00. Following the transaction, the insider now directly owns 144,138 shares of the company’s stock, valued at $9,368,970. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
AbbVie Company Profile
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.
Receive News & Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with MarketBeat.com's FREE daily email newsletter.