United Bank Inc. boosted its position in AbbVie Inc. (NYSE:ABBV) by 3.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 17,299 shares of the company’s stock after buying an additional 547 shares during the period. United Bank Inc.’s holdings in AbbVie were worth $1,071,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Raymond James Trust N.A. raised its position in shares of AbbVie by 12.9% in the first quarter. Raymond James Trust N.A. now owns 132,760 shares of the company’s stock worth $7,582,000 after buying an additional 15,201 shares during the period. City Holding Co. raised its position in shares of AbbVie by 5.4% in the first quarter. City Holding Co. now owns 36,802 shares of the company’s stock worth $2,102,000 after buying an additional 1,900 shares during the period. Ronna Sue Cohen raised its position in shares of AbbVie by 0.8% in the first quarter. Ronna Sue Cohen now owns 27,401 shares of the company’s stock worth $1,565,000 after buying an additional 214 shares during the period. Regent Investment Management LLC raised its position in shares of AbbVie by 0.3% in the first quarter. Regent Investment Management LLC now owns 11,929 shares of the company’s stock worth $681,000 after buying an additional 30 shares during the period. Finally, Boston Advisors LLC raised its position in shares of AbbVie by 673.0% in the first quarter. Boston Advisors LLC now owns 735,734 shares of the company’s stock worth $42,025,000 after buying an additional 640,549 shares during the period. Institutional investors own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded down 0.88% on Thursday, hitting $62.83. The stock had a trading volume of 4,446,105 shares. AbbVie Inc. has a 12 month low of $45.45 and a 12 month high of $68.12. The company has a market cap of $102.32 billion, a PE ratio of 18.12 and a beta of 1.50. The company has a 50-day moving average of $64.24 and a 200 day moving average of $62.49.
AbbVie (NYSE:ABBV) last issued its quarterly earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.06. The firm had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.20 billion. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. On average, analysts predict that AbbVie Inc. will post $4.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Wednesday, October 12th. AbbVie’s dividend payout ratio (DPR) is currently 65.71%.
Several research firms have recently commented on ABBV. Barclays PLC reaffirmed an “equal weight” rating and set a $68.00 price target on shares of AbbVie in a research report on Tuesday, August 2nd. Jefferies Group reaffirmed a “buy” rating on shares of AbbVie in a research report on Thursday, August 4th. Argus reaffirmed a “buy” rating and set a $85.00 price target on shares of AbbVie in a research report on Monday, August 8th. Vetr lowered shares of AbbVie from a “buy” rating to a “hold” rating and set a $67.14 price target for the company. in a research report on Tuesday, July 12th. Finally, Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $78.00 price target on shares of AbbVie in a research report on Thursday, September 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $70.68.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the business’s stock in a transaction on 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 transaction, 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 accessible through this link. Company 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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