AT Bancorp decreased its position in AbbVie Inc. (NYSE:ABBV) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,800 shares of the company’s stock after selling 200 shares during the period. AT Bancorp’s holdings in AbbVie were worth $1,659,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Inspirion Wealth Advisors LLC boosted its position in shares of AbbVie by 2.5% in the first quarter. Inspirion Wealth Advisors LLC now owns 205,570 shares of the company’s stock worth $11,742,000 after buying an additional 4,922 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of AbbVie by 35.9% in the first quarter. Glenmede Trust Co. NA now owns 1,385,311 shares of the company’s stock worth $79,127,000 after buying an additional 365,960 shares during the last quarter. RKL Wealth Management LLC boosted its position in shares of AbbVie by 51.7% in the first quarter. RKL Wealth Management LLC now owns 16,569 shares of the company’s stock worth $946,000 after buying an additional 5,645 shares during the last quarter. RDL Financial Inc. bought a new position in shares of AbbVie during the first quarter worth about $435,000. Finally, Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of AbbVie by 0.9% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 24,364 shares of the company’s stock worth $1,392,000 after buying an additional 215 shares during the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded down 0.28% during trading on Tuesday, hitting $63.13. The stock had a trading volume of 300,388 shares. AbbVie Inc. has a 52 week low of $45.45 and a 52 week high of $68.12. The company has a 50-day moving average of $64.02 and a 200 day moving average of $62.67. The company has a market cap of $102.81 billion, a price-to-earnings ratio of 18.21 and a beta of 1.50.
AbbVie (NYSE:ABBV) last announced its quarterly earnings data on Friday, July 29th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.06. AbbVie had a return on equity of 161.46% and a net margin of 23.11%. The business earned $6.43 billion during the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the prior year, the company earned $1.08 EPS. AbbVie’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities research analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current 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 given a dividend of $0.57 per share. The ex-dividend date is Wednesday, October 12th. This represents a $2.28 annualized dividend and a dividend yield of 3.60%. AbbVie’s dividend payout ratio is currently 65.71%.
A number of research analysts have issued reports on the company. Jefferies Group reissued a “buy” rating on shares of AbbVie in a report on Thursday, August 25th. Vetr cut AbbVie from a “buy” rating to a “hold” rating and set a $67.01 price objective for the company. in a report on Tuesday, July 26th. JPMorgan Chase & Co. cut AbbVie from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $73.00 in a report on Thursday, September 8th. They noted that the move was a valuation call. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $67.00 price target on shares of AbbVie in a report on Wednesday, June 29th. Finally, Raymond James Financial Inc. assumed coverage on AbbVie in a report on Thursday, September 1st. They issued an “outperform” rating and a $82.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $70.68.
In related news, insider Laura J. Schumacher sold 50,000 shares of the company’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 completion of 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 filing with the SEC, which is available through this link. Corporate 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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