First Niagara Bank decreased its stake in AbbVie Inc. (NYSE:ABBV) by 1.4% during the second quarter, Holdings Channel reports. The firm owned 53,752 shares of the company’s stock after selling 742 shares during the period. First Niagara Bank’s holdings in AbbVie were worth $3,328,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of ABBV. Orbis Allan Gray Ltd purchased a new position in AbbVie during the first quarter valued at $281,766,000. AXA raised 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 in the last quarter. Renaissance Technologies LLC raised its position in AbbVie by 168.2% in the first quarter. Renaissance Technologies LLC now owns 1,563,056 shares of the company’s stock valued at $89,282,000 after buying an additional 980,300 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in AbbVie during the first quarter valued at $50,875,000. Finally, LPL Financial LLC raised its position in AbbVie by 81.1% in the first quarter. LPL Financial LLC now owns 1,005,738 shares of the company’s stock valued at $58,855,000 after buying an additional 450,370 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AbbVie Inc. (NYSE:ABBV) traded up 0.60% during mid-day trading on Monday, hitting $63.31. 3,135,309 shares of the stock were exchanged. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12. The stock has a market capitalization of $103.10 billion, a price-to-earnings ratio of 18.26 and a beta of 1.50. The stock’s 50-day moving average is $64.13 and its 200-day moving average is $62.54.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, topping the 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%. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Analysts forecast that AbbVie Inc. will post $4.81 earnings per share 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 given a $0.57 dividend. 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 65.71%.
A number of brokerages recently commented on ABBV. Vetr lowered shares of AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.78 price target on the stock. in a research note on Thursday, June 23rd. Credit Suisse Group AG reiterated a “buy” rating on shares of AbbVie in a research note on Sunday, July 10th. Jefferies Group reiterated a “buy” rating on shares of AbbVie in a research note on Thursday, August 4th. Argus reiterated a “buy” rating and issued a $85.00 price target on shares of AbbVie in a research note on Monday, August 8th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $78.00 price target on shares of AbbVie in a research note on Thursday, September 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus 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 dated 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 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 is accessible through this hyperlink. 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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