Mark Sheptoff Financial Planning LLC boosted its stake in AbbVie Inc. (NYSE:ABBV) by 2.0% during the second quarter, Holdings Channel reports. The fund owned 41,108 shares of the company’s stock after buying an additional 806 shares during the period. AbbVie accounts for 1.9% of Mark Sheptoff Financial Planning LLC’s portfolio, making the stock its 14th largest position. Mark Sheptoff Financial Planning LLC’s holdings in AbbVie were worth $2,545,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ABBV. Acropolis Investment Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at approximately $106,000. CapWealth Advisors LLC raised its stake 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 during the last quarter. Cypress Capital Management LLC WY acquired a new stake in shares of AbbVie during the second quarter valued at approximately $114,000. Hartford Financial Management Inc. raised its stake 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 during the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in shares of AbbVie during the second quarter valued at approximately $122,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.
AbbVie Inc. (NYSE:ABBV) traded up 0.26% during midday trading on Wednesday, hitting $61.98. The company had a trading volume of 540,665 shares. AbbVie Inc. has a 52-week low of $45.45 and a 52-week high of $68.12. The stock has a 50 day moving average of $63.89 and a 200 day moving average of $62.67. The firm has a market cap of $100.94 billion, a price-to-earnings ratio of 17.88 and a beta of 1.50.
AbbVie (NYSE:ABBV) last posted its quarterly earnings data on Friday, July 29th. The company reported $1.26 EPS for the quarter, beating the Zacks’ 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 company had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the prior year, the firm posted $1.08 EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. On average, analysts anticipate that AbbVie Inc. will post $4.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Friday, October 14th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Wednesday, October 12th. AbbVie’s dividend payout ratio is currently 65.71%.
ABBV has been the topic of several research analyst reports. Goldman Sachs Group Inc. reissued a “buy” rating and issued a $78.00 price objective on shares of AbbVie in a report on Tuesday, September 27th. Vetr lowered AbbVie from a “strong-buy” rating to a “buy” rating and set a $67.75 price objective on the stock. in a report on Wednesday, June 29th. BMO Capital Markets reissued a “market perform” rating and issued a $66.00 price objective on shares of AbbVie in a report on Friday, July 29th. Credit Suisse Group AG reissued a “buy” rating on shares of AbbVie in a report on Sunday, July 10th. Finally, Jefferies Group reissued a “buy” rating and issued a $90.00 price objective on shares of AbbVie in a report on Wednesday, October 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.68.
In other news, insider Laura J. Schumacher sold 50,000 shares of the company’s 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 of the company’s stock, valued at approximately $9,368,970. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding ABBV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AbbVie Inc. (NYSE:ABBV).
Receive News & Ratings for AbbVie Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AbbVie Inc. and related companies with MarketBeat.com's FREE daily email newsletter.