LS Investment Advisors LLC raised its stake in AbbVie Inc. (NYSE:ABBV) by 9.4% during the second quarter, Holdings Channel reports. The fund owned 95,119 shares of the company’s stock after buying an additional 8,188 shares during the period. LS Investment Advisors LLC’s holdings in AbbVie were worth $5,889,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC increased its position in AbbVie by 0.7% in the first quarter. Geode Capital Management LLC now owns 13,051,181 shares of the company’s stock valued at $743,963,000 after buying an additional 93,719 shares during the last quarter. Franklin Resources Inc. increased its position in AbbVie by 2.1% in the first quarter. Franklin Resources Inc. now owns 5,623,069 shares of the company’s stock valued at $321,188,000 after buying an additional 115,458 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in AbbVie during the first quarter valued at approximately $281,766,000. Nordea Investment Management AB increased its position in AbbVie by 1.9% in the second quarter. Nordea Investment Management AB now owns 3,451,336 shares of the company’s stock valued at $213,672,000 after buying an additional 63,274 shares during the last quarter. Finally, AXA increased its position in 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. 68.36% of the stock is currently owned by hedge funds and other institutional investors.
AbbVie Inc. (NYSE:ABBV) traded up 0.16% during midday trading on Friday, hitting $62.93. 3,812,671 shares of the company traded hands. The company has a market capitalization of $102.48 billion, a price-to-earnings ratio of 18.15 and a beta of 1.50. The stock’s 50-day moving average price is $64.13 and its 200 day moving average price is $62.54. AbbVie Inc. has a 12-month low of $45.45 and a 12-month high of $68.12.
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, beating the 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 had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the business earned $1.08 EPS. The company’s revenue was up 17.8% compared to the same quarter last year. On average, equities analysts forecast that AbbVie Inc. will post $4.81 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 annualized dividend and a yield of 3.62%. AbbVie’s payout ratio is currently 65.71%.
ABBV has been the topic of several analyst reports. BMO Capital Markets downgraded shares of AbbVie from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $70.00 to $66.00 in a research report on Friday, June 10th. Goldman Sachs Group Inc. reissued a “buy” rating and set a $78.00 target price on shares of AbbVie in a research report 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 on the stock. in a research report on Wednesday, June 29th. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a research report on Sunday, July 10th. Finally, Jefferies Group reissued a “buy” rating and set a $90.00 target price on shares of AbbVie in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. AbbVie currently has an average rating of “Buy” and an average price target of $70.68.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of AbbVie stock in a transaction 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 sale, 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 Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by company 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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