Schroder Investment Management Group boosted its stake in AbbVie Inc. (NYSE:ABBV) by 64.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 933,295 shares of the company’s stock after buying an additional 364,843 shares during the period. Schroder Investment Management Group owned about 0.06% of AbbVie worth $57,779,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. CapWealth Advisors LLC increased its position in shares of 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 in the last quarter. Acropolis Investment Management LLC bought a new position in shares of AbbVie during the second quarter valued at about $106,000. Cypress Capital Management LLC WY bought a new position in shares of AbbVie during the second quarter valued at about $114,000. Hartford Financial Management Inc. increased its position in shares of 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 in the last quarter. Finally, Americafirst Capital Management LLC bought a new position in shares of AbbVie during the second quarter valued at about $122,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.
AbbVie Inc. (NYSE:ABBV) traded up 0.16% during trading on Friday, reaching $62.93. 3,812,671 shares of the company’s stock were exchanged. AbbVie Inc. has a 1-year low of $45.45 and a 1-year high of $68.12. The company has a market capitalization of $102.48 billion, a PE ratio of 18.15 and a beta of 1.50. The company’s 50-day moving average is $64.13 and its 200-day moving average is $62.54.
AbbVie (NYSE:ABBV) last released its earnings results on Friday, July 29th. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.06. AbbVie had a net margin of 23.11% and a return on equity of 161.46%. The company earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same quarter in the prior year, the firm earned $1.08 EPS. The company’s revenue was up 17.8% compared to the same quarter last year. Equities research analysts expect that AbbVie Inc. will post $4.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Friday, October 14th will be given a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $2.28 dividend on an annualized basis and a yield of 3.62%. AbbVie’s payout ratio is 65.71%.
Several research analysts have weighed in on ABBV shares. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Vetr downgraded AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price target for the company. in a report on Tuesday, July 26th. Jefferies Group reiterated a “buy” rating and issued a $90.00 price target on shares of AbbVie in a report on Wednesday. BMO Capital Markets reiterated a “market perform” rating and issued a $66.00 price target on shares of AbbVie in a report on Friday, July 29th. Finally, Zacks Investment Research upgraded AbbVie from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $70.68.
In other AbbVie news, insider Laura J. Schumacher sold 50,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 144,138 shares in the company, valued at approximately $9,368,970. The transaction was disclosed in a legal filing with the SEC, 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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