Delaney Dennis R continued to hold its stake in AbbVie Inc. (NYSE:ABBV) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,780 shares of the company’s stock at the end of the second quarter. AbbVie makes up 2.7% of Delaney Dennis R’s investment portfolio, making the stock its 14th largest position. Delaney Dennis R’s holdings in AbbVie were worth $1,286,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. BB&T Securities LLC increased its stake in shares of AbbVie by 46.4% in the first quarter. BB&T Securities LLC now owns 1,379,549 shares of the company’s stock valued at $78,799,000 after buying an additional 436,945 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of AbbVie by 18.9% in the second quarter. Nisa Investment Advisors LLC now owns 631,940 shares of the company’s stock valued at $39,123,000 after buying an additional 100,674 shares during 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 during the last quarter. Orbis Allan Gray Ltd acquired a new stake in shares of AbbVie during the first quarter valued at $281,766,000. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of AbbVie by 15.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,634,632 shares of the company’s stock valued at $150,490,000 after buying an additional 348,015 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.16% on Friday, hitting $62.93. The stock had a trading volume of 3,812,671 shares. The firm has a market cap of $102.48 billion, a price-to-earnings ratio of 18.15 and a beta of 1.50. AbbVie Inc. has a 12-month low of $45.45 and a 12-month high of $68.12. The stock has a 50 day moving average of $64.13 and a 200 day moving average of $62.54.
AbbVie (NYSE:ABBV) last released its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Equities analysts predict that AbbVie Inc. will post $4.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Friday, October 14th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio is presently 65.71%.
Several equities research analysts have recently weighed in on ABBV shares. Zacks Investment Research upgraded AbbVie from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Wednesday, September 28th. Goldman Sachs Group Inc. restated a “buy” rating and set a $78.00 price objective on shares of AbbVie in a report on Tuesday, September 27th. Jefferies Group restated a “buy” rating and set a $90.00 price objective on shares of AbbVie in a report on Wednesday. JPMorgan Chase & Co. downgraded AbbVie from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $75.00 to $73.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. Finally, Vetr upgraded AbbVie from a “hold” rating to a “buy” rating and set a $67.63 price objective on the stock in a report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. AbbVie currently has a consensus rating of “Buy” and an average price target of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $65.00, for a total value of $3,250,000.00. Following the transaction, the insider now directly owns 144,138 shares in the company, valued at $9,368,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.
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.
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